Principal Financial Group Inc. lifted its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,067 shares of the restaurant operator’s stock after purchasing an additional 32,475 shares during the quarter. Principal Financial Group Inc. owned 0.78% of Dave & Buster’s Entertainment worth $21,620,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PLAY. BlackRock Inc. boosted its position in shares of Dave & Buster’s Entertainment by 128,117.4% during the first quarter. BlackRock Inc. now owns 4,429,910 shares of the restaurant operator’s stock worth $270,623,000 after purchasing an additional 4,426,455 shares in the last quarter. Mik Capital LLC bought a new position in shares of Dave & Buster’s Entertainment during the second quarter worth $43,824,000. TimesSquare Capital Management LLC bought a new position in shares of Dave & Buster’s Entertainment during the first quarter worth $31,865,000. Vanguard Group Inc. boosted its position in shares of Dave & Buster’s Entertainment by 11.7% during the first quarter. Vanguard Group Inc. now owns 3,912,633 shares of the restaurant operator’s stock worth $239,022,000 after purchasing an additional 411,339 shares in the last quarter. Finally, Scopus Asset Management L.P. bought a new position in shares of Dave & Buster’s Entertainment during the first quarter worth $24,436,000.
PLAY has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Monday, August 28th. BidaskClub lowered shares of Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. set a $85.00 price objective on shares of Dave & Buster’s Entertainment and gave the stock a “buy” rating in a report on Wednesday, June 7th. Wells Fargo & Company restated an “outperform” rating and set a $78.00 price objective (up from $75.00) on shares of Dave & Buster’s Entertainment in a report on Friday, June 9th. Finally, Maxim Group restated a “buy” rating and set a $72.00 price objective on shares of Dave & Buster’s Entertainment in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.11.
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Shares of Dave & Buster’s Entertainment, Inc. (PLAY) opened at 51.03 on Wednesday. The company’s 50 day moving average is $59.67 and its 200-day moving average is $62.82. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.60 and a beta of 0.65. Dave & Buster’s Entertainment, Inc. has a one year low of $37.60 and a one year high of $73.48.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The business had revenue of $280.80 million for the quarter, compared to analyst estimates of $281.69 million. Dave & Buster’s Entertainment had a net margin of 10.27% and a return on equity of 24.58%. Dave & Buster’s Entertainment’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities analysts expect that Dave & Buster’s Entertainment, Inc. will post $2.69 EPS for the current year.
Dave & Buster’s Entertainment declared that its board has authorized a share repurchase plan on Tuesday, June 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In related news, CMO John P. Gleason sold 15,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $66.96, for a total transaction of $1,004,400.00. Following the transaction, the chief marketing officer now directly owns 25,505 shares of the company’s stock, valued at $1,707,814.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen M. King sold 45,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $49.80, for a total transaction of $2,241,000.00. Following the transaction, the chief executive officer now directly owns 22,501 shares in the company, valued at $1,120,549.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,000 shares of company stock worth $5,975,675. 5.60% of the stock is owned by insiders.
Dave & Buster’s Entertainment Profile
Dave & Busters Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.
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