Maverick Capital Ltd. Sells 266,373 Shares of Dave & Buster’s Entertainment, Inc. $PLAY

Maverick Capital Ltd. reduced its stake in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 81.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,114 shares of the restaurant operator’s stock after selling 266,373 shares during the quarter. Maverick Capital Ltd.’s holdings in Dave & Buster’s Entertainment were worth $640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of Dave & Buster’s Entertainment during the third quarter valued at $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Dave & Buster’s Entertainment by 616.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,671 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Dave & Buster’s Entertainment during the 4th quarter worth about $42,000. Tower Research Capital LLC TRC increased its position in shares of Dave & Buster’s Entertainment by 292.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock worth $152,000 after purchasing an additional 3,772 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Dave & Buster’s Entertainment during the 3rd quarter valued at about $104,000. 91.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLAY shares. Weiss Ratings restated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Friday, July 17th. Zacks Research lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Wall Street Zen cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. UBS Group reduced their target price on Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Finally, Citigroup assumed coverage on Dave & Buster’s Entertainment in a research report on Monday, June 29th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.33.

Dave & Buster’s Entertainment Stock Performance

Dave & Buster’s Entertainment stock opened at $10.39 on Wednesday. The stock has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $13.40. The company has a quick ratio of 0.20, a current ratio of 0.29 and a debt-to-equity ratio of 15.01. Dave & Buster’s Entertainment, Inc. has a 12-month low of $9.40 and a 12-month high of $32.10. The stock has a market capitalization of $361.47 million, a price-to-earnings ratio of -5.50 and a beta of 1.84.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Monday, June 15th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Dave & Buster’s Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.The company had revenue of $559.20 million for the quarter, compared to analyst estimates of $580.60 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Dave & Buster’s Entertainment, Inc. will post -1.1 earnings per share for the current fiscal year.

Dave & Buster’s Entertainment Company Profile

Dave & Buster’s Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.