Wolf Hill Capital Management LP Buys Shares of 1,356,903 Dave & Buster’s Entertainment, Inc. $PLAY

Wolf Hill Capital Management LP acquired a new stake in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,356,903 shares of the restaurant operator’s stock, valued at approximately $15,468,694. Dave & Buster’s Entertainment comprises 0.0% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Wolf Hill Capital Management LP owned 3.90% of Dave & Buster’s Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patient Capital Management LLC bought a new stake in shares of Dave & Buster’s Entertainment during the 2nd quarter worth about $2,326,000. Cibc World Market Inc. purchased a new position in shares of Dave & Buster’s Entertainment during the second quarter worth approximately $2,098,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter worth approximately $2,091,000. Quantbot Technologies LP bought a new stake in shares of Dave & Buster’s Entertainment in the second quarter worth approximately $359,000. Finally, Farringdon Capital Ltd. bought a new position in shares of Dave & Buster’s Entertainment in the second quarter worth about $144,000. 91.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Friday, July 17th. Citigroup started coverage on Dave & Buster’s Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. UBS Group cut their price target on Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Finally, Citizens Jmp assumed coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, June 29th. They issued a “market perform” rating on the stock. Two investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.33.

Dave & Buster’s Entertainment Price Performance

NASDAQ:PLAY traded up $0.13 on Friday, reaching $9.31. 743,586 shares of the company’s stock traded hands, compared to its average volume of 1,549,246. The firm has a market cap of $323.89 million, a PE ratio of -4.93 and a beta of 1.86. Dave & Buster’s Entertainment, Inc. has a 12 month low of $9.10 and a 12 month high of $25.69. The stock has a 50-day simple moving average of $10.51 and a 200-day simple moving average of $12.01. The company has a quick ratio of 0.20, a current ratio of 0.29 and a debt-to-equity ratio of 15.01.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Monday, June 15th. The restaurant operator reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Dave & Buster’s Entertainment had a negative net margin of 3.09% and a negative return on equity of 24.19%. The company had revenue of $559.20 million for the quarter, compared to analysts’ expectations of $580.60 million. During the same period last year, the firm earned $0.76 earnings per share. Dave & Buster’s Entertainment’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Dave & Buster’s Entertainment, Inc. will post -1.1 earnings per share for the current 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.