Weiss Asset Management LP Takes $1.12 Million Position in Dave & Buster’s Entertainment, Inc. $PLAY

Weiss Asset Management LP purchased a new stake in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 103,301 shares of the restaurant operator’s stock, valued at approximately $1,119,000.

Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC purchased a new position in Dave & Buster’s Entertainment in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Dave & Buster’s Entertainment by 616.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,671 shares during the period. Leonteq Securities AG purchased a new position in shares of Dave & Buster’s Entertainment in the 4th quarter worth about $42,000. Tower Research Capital LLC TRC grew its position in Dave & Buster’s Entertainment by 292.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock valued at $152,000 after buying an additional 3,772 shares during the period. Finally, Quadrant Capital Group LLC bought a new position in Dave & Buster’s Entertainment during the third quarter valued at about $104,000. 91.45% of the stock is currently owned by institutional investors.

Dave & Buster’s Entertainment Stock Up 5.7%

PLAY opened at $10.43 on Tuesday. Dave & Buster’s Entertainment, Inc. has a 12 month low of $9.40 and a 12 month high of $33.30. The company has a market cap of $362.86 million, a PE ratio of -5.52 and a beta of 1.84. 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 company has a 50 day moving average of $11.32 and a 200 day moving average of $13.44.

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 company had revenue of $559.20 million for the quarter, compared to analysts’ expectations of $580.60 million. During the same quarter in the prior year, the company earned $0.76 EPS. The company’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that Dave & Buster’s Entertainment, Inc. will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLAY. BMO Capital Markets lowered their price objective on shares of Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. UBS Group decreased 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. Wall Street Zen cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Zacks Research downgraded Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Dave & Buster’s Entertainment currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Dave & Buster’s Entertainment Company 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.