Wolf Hill Capital Management LP Invests $15.47 Billion in Dave & Buster’s Entertainment, Inc. $PLAY

Wolf Hill Capital Management LP acquired a new position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,356,903 shares of the restaurant operator’s stock, valued at approximately $15,468,694,000. Dave & Buster’s Entertainment comprises approximately 1.3% of Wolf Hill Capital Management LP’s portfolio, making the stock its 18th largest holding. Wolf Hill Capital Management LP owned about 3.90% of Dave & Buster’s Entertainment at the end of the most recent reporting period.

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

Dave & Buster’s Entertainment Price Performance

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

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results 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). The firm had revenue of $559.20 million for the quarter, compared to analyst estimates of $580.60 million. Dave & Buster’s Entertainment had a negative net margin of 3.09% and a negative return on equity of 24.19%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. As a group, research analysts expect that Dave & Buster’s Entertainment, Inc. will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLAY shares. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Friday, July 17th. UBS Group dropped their price target on shares of Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, June 16th. Citizens Jmp initiated 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 initiated 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. Finally, BMO Capital Markets decreased their price objective on Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating for the company 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.33.

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.