Wolf Hill Capital Management LP Purchases New Shares in Dave & Buster’s Entertainment, Inc. $PLAY

Wolf Hill Capital Management LP bought a new position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,356,903 shares of the restaurant operator’s stock, valued at approximately $15,468,694,000. Dave & Buster’s Entertainment makes up about 1.3% of Wolf Hill Capital Management LP’s holdings, making the stock its 18th biggest holding.

Several other institutional investors also recently added to or reduced their stakes in PLAY. Advisory Services Network LLC bought a new position in Dave & Buster’s Entertainment during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of Dave & Buster’s Entertainment by 616.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,671 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Dave & Buster’s Entertainment during the 2nd quarter valued at approximately $33,000. Leonteq Securities AG bought a new position in Dave & Buster’s Entertainment in the 4th quarter worth approximately $42,000. Finally, Quadrant Capital Group LLC bought a new position in Dave & Buster’s Entertainment in the 3rd quarter worth approximately $104,000. Institutional investors own 91.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citizens Jmp started coverage on shares of Dave & Buster’s Entertainment in a report on Monday, June 29th. They set a “market perform” rating on the stock. Citigroup began coverage on Dave & Buster’s Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Friday, July 17th. BMO Capital Markets decreased their price objective on Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Finally, UBS Group dropped their price objective on Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Dave & Buster’s Entertainment Stock Performance

Dave & Buster’s Entertainment stock opened at $10.42 on Tuesday. The firm’s 50 day simple moving average is $10.62 and its 200 day simple moving average is $12.21. The company has a current ratio of 0.29, a quick ratio of 0.20 and a debt-to-equity ratio of 15.01. The firm has a market capitalization of $362.51 million, a PE ratio of -5.51 and a beta of 1.86. Dave & Buster’s Entertainment, Inc. has a 1-year low of $9.40 and a 1-year high of $26.31.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Monday, June 15th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Dave & Buster’s Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.The firm had revenue of $559.20 million during the quarter, compared to analysts’ expectations of $580.60 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts expect that Dave & Buster’s Entertainment, Inc. will post -1.1 earnings per share for the current fiscal year.

Dave & Buster’s Entertainment Profile

Dave & Buster’s Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.