BlackRock Trims Dave & Buster's Stake to 9.5%
Ticker: PLAY · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1525769
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, stake-change, amendment
TL;DR
**BlackRock cut its Dave & Buster's stake to 9.5%, a slight dip from prior holdings.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, indicating a change in its ownership stake in Dave & Buster's Entertainment, Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 4,082,143 shares of Dave & Buster's common stock, representing 9.5% of the company's outstanding shares. This is a decrease from their previously reported 10.2% stake, signaling a slight reduction in BlackRock's conviction or a rebalancing of their portfolio, which could influence other investors' perceptions of the stock.
Why It Matters
This filing shows that a major institutional investor, BlackRock, has slightly reduced its position in Dave & Buster's, which could be interpreted by the market as a minor loss of confidence or a strategic portfolio adjustment.
Risk Assessment
Risk Level: low — A minor reduction in ownership by a large institutional investor like BlackRock typically has a low direct risk impact on the company's operations or stock price.
Analyst Insight
A smart investor would note BlackRock's slight reduction in ownership but recognize that a 9.5% stake still represents significant institutional confidence. This change alone isn't a strong buy or sell signal but warrants monitoring future institutional filings and company performance.
Key Numbers
- 4,082,143 — Shares owned by BlackRock (Represents BlackRock's beneficial ownership in Dave & Buster's as of December 31, 2023.)
- 9.5% — Percentage of class owned (Indicates BlackRock's current significant, but slightly reduced, stake in Dave & Buster's.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Dave & Buster's Entertainment, Inc. (company) — the subject company whose shares are being reported
- 4,082,143 (dollar_amount) — number of shares beneficially owned by BlackRock
- 9.5% (dollar_amount) — percentage of Dave & Buster's common stock beneficially owned by BlackRock as of December 31, 2023
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Other institutional investors may review BlackRock's reduced stake and potentially re-evaluate their own positions in Dave & Buster's. (Dave & Buster's Entertainment, Inc.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 13) by BlackRock Inc. to report a change in its beneficial ownership of Dave & Buster's Entertainment, Inc. common stock as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., a major institutional investment manager, as indicated in the 'FILED BY' section of the filing.
What percentage of Dave & Buster's common stock does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 9.5% of Dave & Buster's Entertainment, Inc. common stock, as stated in the filing for the event date of December 31, 2023.
How many shares of Dave & Buster's common stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 4,082,143 shares of Dave & Buster's Entertainment, Inc. common stock, as detailed in the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding Dave & Buster's Entertainment, Inc. (PLAY).