Texas Permanent School Fund Corp Reduces Position in Dave & Buster’s Entertainment Inc (PLAY)
Texas Permanent School Fund Corp reduces position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)
In a recent filing with the SEC, Texas Permanent School Fund Corp disclosed a 5.1% reduction in its position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) during the first quarter. The firm sold 1,526 shares, bringing its total ownership to 28,138 shares valued at $1,761,000.
This move comes as a number of other institutional investors have either increased or decreased their stakes in PLAY. Wolf Hill Capital Management LP acquired a new position in the company worth approximately $72,730,000, while Coronation Fund Managers Ltd. raised its stake by 273.6% to 1,005,479 shares. Sea Cliff Partners Management LP and Norges Bank also acquired new stakes in the company, with Vanguard Group Inc. increasing its holdings by 2.7%.
Analysts have recently weighed in on PLAY, with Raymond James reiterating a “market perform” rating, and UBS Group, Truist Financial, and Loop Capital all adjusting their price targets. StockNews.com upgraded the stock from a “sell” to a “hold” rating. Overall, the stock has an average rating of “Moderate Buy” and an average target price of $65.71.
In insider activity, CFO Darin Harper purchased 13,438 shares of the company’s stock, valued at $521,125.64. Following this transaction, Harper now owns 35,598 shares in the company.
Dave & Buster’s Entertainment stock opened at $39.73 on Thursday, with a 12-month low of $33.07 and a high of $69.82. The company reported $1.12 EPS for the quarter, missing estimates by $0.44. Analysts forecast 3.03 EPS for the current year.
Dave & Buster’s Entertainment, Inc. operates entertainment and dining venues for adults and families, offering a menu of entrees, beverages, and entertainment attractions.
Overall, the company’s stock performance and recent insider activity indicate potential growth and stability in the future.
