Patient Capital Management LLC Buys Shares of 204,022 Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Patient Capital Management bought 204,022 shares of Dave & Buster’s Entertainment in the second quarter, worth approximately $2.33 million and representing a 0.59% stake. Institutional investors collectively own 91.45% of the company.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $19.33; recent firms issued ratings ranging from “Sell” to “Outperform.”
• Dave & Buster’s reported quarterly EPS of $0.22, missing estimates of $0.60, while revenue fell 1.5% year over year to $559.2 million. The stock opened at $10.25 and remains near its 12-month low of $9.40.

Patient Capital Management LLC purchased a new stake in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 204,022 shares of the restaurant operator's stock, valued at approximately $2,326,000. Patient Capital Management LLC owned 0.59% of Dave & Buster's Entertainment at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new position in shares of Dave & Buster's Entertainment in the 4th quarter valued at $7,311,000. GSA Capital Partners LLP purchased a new stake in Dave & Buster's Entertainment during the 2nd quarter worth approximately $1,228,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Dave & Buster's Entertainment by 40.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,515,000 shares of the restaurant operator's stock worth $24,558,000 after buying an additional 434,000 shares during the period. MUFG Securities EMEA plc purchased a new position in Dave & Buster's Entertainment in the 4th quarter worth $7,359,000. Finally, Weiss Asset Management LP purchased a new stake in Dave & Buster's Entertainment during the 1st quarter valued at about $1,119,000. Hedge funds and other institutional investors own 91.45% of the company's stock.

Analyst Upgrades and Downgrades

PLAY has been the subject of a number of recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Dave & Buster's Entertainment in a research report on Friday, July 17th. Citizens Jmp 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. BMO Capital Markets reduced their target price on shares of 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. UBS Group decreased their target price on shares of Dave & Buster's Entertainment from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, June 16th. Finally, Citigroup began coverage on Dave & Buster's Entertainment in a research report on Monday, June 29th. They set a "market perform" rating on the stock. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Dave & Buster's Entertainment has a consensus rating of "Hold" and a consensus price target of $19.33.

Dave & Buster's Entertainment Price Performance

Dave & Buster's Entertainment stock opened at $10.25 on Monday. 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 stock has a market capitalization of $356.60 million, a PE ratio of -5.42 and a beta of 1.86. The business has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $12.27. Dave & Buster's Entertainment, Inc. has a 12 month low of $9.40 and a 12 month high of $26.31.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last released its quarterly earnings results on Monday, June 15th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.38). The company had revenue of $559.20 million during 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%. Dave & Buster's Entertainment's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, analysts anticipate that Dave & Buster's Entertainment, Inc. will post -1.1 EPS 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.

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