Coronation Fund Managers Ltd. Cuts Stake in Dave & Buster's Entertainment Inc (NASDAQ:PLAY)

Coronation Fund Managers Ltd. trimmed its holdings in shares of Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Free Report) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,933 shares of the restaurant operator's stock after selling 16,112 shares during the period. Coronation Fund Managers Ltd. owned about 0.68% of Dave & Buster's Entertainment worth $9,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PLAY. Central Pacific Bank Trust Division purchased a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $331,000. GSA Capital Partners LLP purchased a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $476,000. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Dave & Buster's Entertainment by 3.5% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 8,940 shares of the restaurant operator's stock worth $560,000 after buying an additional 300 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $2,401,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Dave & Buster's Entertainment by 1.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,369 shares of the restaurant operator's stock worth $1,212,000 after acquiring an additional 248 shares during the period. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster's Entertainment Trading Up 4.4 %

Shares of PLAY stock traded up $1.63 during mid-day trading on Friday, hitting $38.56. 1,258,103 shares of the company's stock were exchanged, compared to its average volume of 1,299,035. Dave & Buster's Entertainment Inc has a fifty-two week low of $29.31 and a fifty-two week high of $69.82. The stock has a 50-day simple moving average of $33.52 and a two-hundred day simple moving average of $39.95. The company has a quick ratio of 0.14, a current ratio of 0.24 and a debt-to-equity ratio of 4.54. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 14.07 and a beta of 2.13.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.28. The business had revenue of $557.10 million for the quarter, compared to analysts' expectations of $560.65 million. Dave & Buster's Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The business's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. Equities analysts expect that Dave & Buster's Entertainment Inc will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher Daniel Morris bought 14,912 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average cost of $33.67 per share, with a total value of $502,087.04. Following the transaction, the chief executive officer now owns 83,847 shares of the company's stock, valued at $2,823,128.49. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLAY shares. StockNews.com cut Dave & Buster's Entertainment from a "hold" rating to a "sell" rating in a report on Wednesday, September 11th. Loop Capital lowered their price target on Dave & Buster's Entertainment from $63.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. BMO Capital Markets lowered their price target on Dave & Buster's Entertainment from $65.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, September 11th. Truist Financial lowered their price target on Dave & Buster's Entertainment from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Finally, Benchmark started coverage on Dave & Buster's Entertainment in a report on Monday, October 7th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $62.57.

About Dave & Buster's Entertainment

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.