Investing

Hill Path Ups Dave & Buster's (PLAY) Stake to 11.6%

Fintel reports that Hill Path Capital LP has filed a 13D/A form with the SEC disclosing ownership of 5,605,965 shares of Dave & Buster’s Entertainment Inc (PLAY). This represents 11.6% of the company.

In their previous filing dated July 13, 2022 they reported 5,018,004 shares and 10.30% of the company, an increase in shares of 11.72% and an increase in total ownership of 1.30% (calculated as current – previous percent ownership).

In July, Dave & Buster’s entered a revised cooperation agreement that capped Hill Path’s stake at 20%, including the impact of any derivative securities. Hill Path Partner James Chambers has been a director at Dave & Buster’s since December 2020, and as long as he or another Hill Path representative serves on the board, the 20% maximum shall remain in place, the companies said.

Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 141 venues in North America that combine entertainment and dining and offer customers the opportunity to “Eat Drink Play and Watch,” all in one location. Dave & Buster’s offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster’s currently has stores in 40 states, Puerto Rico, and Canada.

What are other large shareholders doing?

Nomura Holdings Inc holds 2,295,723 shares representing 4.75% ownership of the company. In it’s prior filing, the firm reported owning 2,333,892 shares, representing a decrease of 1.66%. The firm increased its portfolio allocation in PLAY by 11.68% over the last quarter.

American Century Companies Inc holds 1,876,211 shares representing 3.89% ownership of the company. In it’s prior filing, the firm reported owning 2,047,273 shares, representing a decrease of 9.12%. The firm decreased its portfolio allocation in PLAY by 6.66% over the last quarter.

Hampton Road Capital Management LP holds 1,537,338 shares representing 3.18% ownership of the company. In it’s prior filing, the firm reported owning 1,292,170 shares, representing an increase of 15.95%. The firm increased its portfolio allocation in PLAY by 41.67% over the last quarter.

Balyasny Asset Management Llc holds 1,331,547 shares representing 2.76% ownership of the company. In it’s prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.

What is the overall Fund Sentiment?

There are 545 funds or institutions reporting positions in Dave & Buster’s Entertainment Inc. This is a decrease of 6 owner(s) or 1.09%.

Average portfolio weight of all funds dedicated to Dave & Buster’s Entertainment Inc is 0.2199%, an increase of 16.8828%. Total shares owned by institutions increased in the last three months by 3.95% to 54,323,622 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe. Click to see the Fintel Fund Sentiment Score for PLAY / Dave & Buster’s Entertainment Inc.

This article originally appeared on Fintel

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