Pioneer Investment Management Inc. Cuts Stake in Dave & Buster’s Entertainment, Inc. (PLAY)

Pioneer Investment Management Inc. cut its position in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,486 shares of the restaurant operator’s stock after selling 981 shares during the period. Pioneer Investment Management Inc.’s holdings in Dave & Buster’s Entertainment were worth $16,660,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dave & Buster’s Entertainment during the fourth quarter worth $9,653,000. Teachers Advisors LLC raised its stake in Dave & Buster’s Entertainment by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 297,261 shares of the restaurant operator’s stock worth $16,736,000 after buying an additional 11,373 shares during the last quarter. Macquarie Group Ltd. raised its stake in Dave & Buster’s Entertainment by 21.1% in the fourth quarter. Macquarie Group Ltd. now owns 107,571 shares of the restaurant operator’s stock worth $6,056,000 after buying an additional 18,716 shares during the last quarter. Bank of Montreal Can raised its stake in Dave & Buster’s Entertainment by 224.9% in the first quarter. Bank of Montreal Can now owns 24,305 shares of the restaurant operator’s stock worth $1,484,000 after buying an additional 16,825 shares during the last quarter. Finally, First National Bank of Omaha raised its stake in Dave & Buster’s Entertainment by 30.1% in the first quarter. First National Bank of Omaha now owns 22,675 shares of the restaurant operator’s stock worth $1,385,000 after buying an additional 5,240 shares during the last quarter.

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ PLAY) opened at 60.50 on Friday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 25.60 and a beta of 0.64. Dave & Buster’s Entertainment, Inc. has a one year low of $37.60 and a one year high of $73.48. The company’s 50-day moving average is $64.79 and its 200-day moving average is $62.37.

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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.17. The company had revenue of $304.15 million for the quarter, compared to analysts’ expectations of $299.77 million. Dave & Buster’s Entertainment had a net margin of 9.78% and a return on equity of 22.71%. Dave & Buster’s Entertainment’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, equities research analysts anticipate that Dave & Buster’s Entertainment, Inc. will post $2.61 earnings per share for the current year.

Dave & Buster’s Entertainment declared that its board has authorized a share buyback program on Tuesday, June 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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A number of analysts have recently weighed in on PLAY shares. SunTrust Banks, Inc. set a $69.00 price objective on shares of Dave & Buster’s Entertainment and gave the stock a “buy” rating in a research note on Thursday, April 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Dave & Buster’s Entertainment in a research note on Thursday, May 18th. Zacks Investment Research upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, May 23rd. Wells Fargo & Company reissued an “outperform” rating and set a $75.00 price target on shares of Dave & Buster’s Entertainment in a report on Tuesday, May 30th. Finally, Maxim Group reissued a “buy” rating and set a $72.00 price target on shares of Dave & Buster’s Entertainment in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $77.33.

In other Dave & Buster’s Entertainment news, CEO Stephen M. King sold 75,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $71.69, for a total value of $5,376,750.00. Following the transaction, the chief executive officer now directly owns 37,501 shares of the company’s stock, valued at approximately $2,688,446.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Mulleady sold 2,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $66.25, for a total transaction of $165,625.00. Following the completion of the transaction, the senior vice president now directly owns 5,852 shares in the company, valued at $387,695. The disclosure for this sale can be found here. Insiders sold a total of 146,686 shares of company stock worth $10,250,811 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Want to see what other hedge funds are holding PLAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY).

Institutional Ownership by Quarter for Dave & Buster`s Entertainment (NASDAQ:PLAY)

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