Sea Cliff Partners Management LP Cuts Stock Position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Sea Cliff Partners Management LP decreased its holdings in shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 20.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 535,000 shares of the restaurant operator’s stock after selling 141,391 shares during the period. Dave & Buster’s Entertainment accounts for about 5.4% of Sea Cliff Partners Management LP’s portfolio, making the stock its 11th largest position. Sea Cliff Partners Management LP’s holdings in Dave & Buster’s Entertainment were worth $15,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Eminence Capital LP increased its holdings in shares of Dave & Buster’s Entertainment by 3.6% in the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after buying an additional 135,095 shares during the last quarter. Patient Capital Management LLC grew its position in Dave & Buster’s Entertainment by 36.6% in the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock worth $51,878,000 after acquiring an additional 476,662 shares in the last quarter. Clearline Capital LP grew its position in Dave & Buster’s Entertainment by 1,768.8% in the fourth quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator’s stock worth $33,458,000 after acquiring an additional 1,084,890 shares in the last quarter. NewEdge Wealth LLC increased its stake in Dave & Buster’s Entertainment by 13.4% during the fourth quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock worth $21,235,000 after acquiring an additional 85,820 shares during the last quarter. Finally, Boston Partners raised its position in Dave & Buster’s Entertainment by 132.5% during the fourth quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock valued at $16,563,000 after purchasing an additional 323,595 shares during the period. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLAY. Piper Sandler dropped their target price on Dave & Buster’s Entertainment from $33.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. BMO Capital Markets dropped their price objective on shares of Dave & Buster’s Entertainment from $47.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Loop Capital cut their price objective on shares of Dave & Buster’s Entertainment from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial lowered their target price on shares of Dave & Buster’s Entertainment from $27.00 to $21.00 and set a “hold” rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Dave & Buster’s Entertainment Price Performance

PLAY opened at $21.61 on Friday. The business has a fifty day moving average of $19.10 and a 200 day moving average of $26.03. The stock has a market cap of $745.87 million, a P/E ratio of 10.70 and a beta of 1.94. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. Dave & Buster’s Entertainment Inc has a 52-week low of $15.08 and a 52-week high of $54.02.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Monday, April 7th. The restaurant operator reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $534.50 million during the quarter, compared to analyst estimates of $548.77 million. Dave & Buster’s Entertainment had a net margin of 3.88% and a return on equity of 44.22%. The business’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. As a group, sell-side analysts anticipate that Dave & Buster’s Entertainment Inc will post 2.52 EPS for the current year.

Dave & Buster’s Entertainment Company 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.