AlphaQuest LLC Trims Holdings in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

AlphaQuest LLC cut its stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,104 shares of the restaurant operator’s stock after selling 1,192 shares during the quarter. AlphaQuest LLC’s holdings in Dave & Buster’s Entertainment were worth $149,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PLAY. SG Americas Securities LLC grew its position in shares of Dave & Buster’s Entertainment by 1,100.8% in the fourth quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator’s stock valued at $12,405,000 after purchasing an additional 389,577 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Dave & Buster’s Entertainment in the fourth quarter valued at $3,677,000. LMR Partners LLP purchased a new position in shares of Dave & Buster’s Entertainment in the third quarter valued at $3,167,000. NewEdge Wealth LLC grew its position in shares of Dave & Buster’s Entertainment by 13.4% in the fourth quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock valued at $21,235,000 after purchasing an additional 85,820 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in Dave & Buster’s Entertainment during the third quarter valued at $2,088,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PLAY. Truist Financial dropped their price objective on Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets dropped their price objective on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Gordon Haskett reissued a “hold” rating and set a $34.00 price objective (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, Loop Capital dropped their price objective on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dave & Buster’s Entertainment has a consensus rating of “Hold” and a consensus target price of $46.67.

Dave & Buster’s Entertainment Trading Up 8.8 %

Shares of PLAY stock opened at $18.93 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The business has a 50-day moving average price of $24.26 and a two-hundred day moving average price of $30.47. Dave & Buster’s Entertainment Inc has a 12-month low of $17.02 and a 12-month high of $69.82. The firm has a market cap of $728.86 million, a P/E ratio of 9.37 and a beta of 2.17.

Insiders Place Their Bets

In related news, CEO Kevin M. Sheehan acquired 19,025 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the acquisition, the chief executive officer now owns 69,025 shares in the company, valued at approximately $1,825,021. This represents a 38.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

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.