Groesbeck Investment Management Corp NJ reduced its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,950 shares of the restaurant operator’s stock after selling 450 shares during the period. Dave & Buster’s Entertainment accounts for 1.4% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 26th largest position. Groesbeck Investment Management Corp NJ owned about 0.07% of Dave & Buster’s Entertainment worth $1,925,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in Dave & Buster’s Entertainment by 61.7% in the first quarter. Russell Investments Group Ltd. now owns 95,207 shares of the restaurant operator’s stock worth $5,815,000 after buying an additional 36,345 shares during the period. Strs Ohio increased its stake in Dave & Buster’s Entertainment by 76.9% in the first quarter. Strs Ohio now owns 2,300 shares of the restaurant operator’s stock worth $140,000 after buying an additional 1,000 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in Dave & Buster’s Entertainment during the first quarter worth approximately $226,000. First Mercantile Trust Co. increased its stake in Dave & Buster’s Entertainment by 11.5% in the first quarter. First Mercantile Trust Co. now owns 8,184 shares of the restaurant operator’s stock worth $500,000 after buying an additional 845 shares during the period. Finally, Independent Portfolio Consultants Inc. acquired a new stake in Dave & Buster’s Entertainment during the first quarter worth approximately $900,000.
Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) opened at 59.95 on Friday. The stock has a 50 day moving average price of $63.63 and a 200-day moving average price of $62.62. The stock has a market cap of $2.49 billion, a PE ratio of 25.37 and a beta of 0.64. Dave & Buster’s Entertainment, Inc. has a 12 month low of $37.60 and a 12 month high of $73.48.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Thursday, June 8th. The restaurant operator reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.17. The business had revenue of $304.15 million during the quarter, compared to analyst estimates of $299.77 million. Dave & Buster’s Entertainment had a return on equity of 22.71% and a net margin of 9.78%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, analysts expect that Dave & Buster’s Entertainment, Inc. will post $2.62 EPS for the current year.
Dave & Buster’s Entertainment announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have commented on PLAY. Jefferies Group LLC raised their target price on Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 9th. BidaskClub raised Dave & Buster’s Entertainment from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Canaccord Genuity raised their target price on Dave & Buster’s Entertainment from $70.00 to $77.00 and gave the company a “buy” rating in a report on Friday, June 9th. SunTrust Banks, Inc. set a $85.00 target price on Dave & Buster’s Entertainment and gave the company a “buy” rating in a report on Wednesday, June 7th. Finally, Piper Jaffray Companies raised their target price on Dave & Buster’s Entertainment from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Dave & Buster’s Entertainment presently has an average rating of “Buy” and an average price target of $77.33.
In other news, COO Margo Lynn Manning sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $66.46, for a total transaction of $664,600.00. Following the completion of the sale, the chief operating officer now directly owns 15,447 shares of the company’s stock, valued at $1,026,607.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Mulleady sold 2,500 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $66.75, for a total value of $166,875.00. Following the sale, the senior vice president now directly owns 5,101 shares of the company’s stock, valued at $340,491.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,186 shares of company stock valued at $10,085,186. Insiders own 5.60% of the company’s stock.
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