Fmr LLC Lowers Stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Fmr LLC trimmed its holdings in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 14.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,521 shares of the restaurant operator’s stock after selling 585 shares during the quarter. Fmr LLC’s holdings in Dave & Buster’s Entertainment were worth $120,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in shares of Dave & Buster’s Entertainment in the second quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC raised its position in Dave & Buster’s Entertainment by 22,338.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,039 shares of the restaurant operator’s stock worth $161,000 after buying an additional 4,021 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter worth $207,000. Quantbot Technologies LP purchased a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at about $196,000. Finally, Lombard Odier Asset Management USA Corp increased its stake in shares of Dave & Buster’s Entertainment by 21.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 6,900 shares of the restaurant operator’s stock worth $275,000 after acquiring an additional 1,217 shares during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.

Insider Buying and Selling

In other Dave & Buster’s Entertainment news, CEO Kevin M. Sheehan bought 19,025 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the transaction, the chief executive officer now owns 69,025 shares of the company’s stock, valued at $1,825,021. This represents a 38.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Daniel Morris purchased 14,912 shares of the stock in a transaction on Monday, October 7th. The stock was acquired at an average price of $33.67 per share, with a total value of $502,087.04. Following the acquisition, the chief executive officer now directly owns 83,847 shares in the company, valued at $2,823,128.49. This trade represents a 21.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 71,672 shares of company stock worth $1,966,596. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLAY. William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Benchmark started coverage on Dave & Buster’s Entertainment in a research report on Monday, October 7th. They issued a “hold” rating for the company. BMO Capital Markets decreased their target price on shares of Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Gordon Haskett reiterated a “hold” rating and issued a $34.00 price target (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Finally, Truist Financial restated a “hold” rating and set a $36.00 target price (down from $56.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.38.

Dave & Buster’s Entertainment Price Performance

Dave & Buster’s Entertainment stock opened at $27.40 on Monday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 13.56 and a beta of 2.13. Dave & Buster’s Entertainment Inc has a 12-month low of $25.00 and a 12-month high of $69.82. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.14. The firm’s 50-day moving average is $35.82 and its two-hundred day moving average is $35.90.

Dave & Buster’s Entertainment Profile

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees 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.