Patient Capital Management LLC Invests $2.33 Million in Dave & Buster’s Entertainment, Inc. $PLAY

Patient Capital Management LLC acquired a new stake in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 204,022 shares of the restaurant operator’s stock, valued at approximately $2,326,000.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Dave & Buster’s Entertainment during the 1st quarter worth approximately $430,000. Creative Planning acquired a new stake in shares of Dave & Buster’s Entertainment in the second quarter valued at approximately $311,000. Marshall Wace LLP acquired a new stake in shares of Dave & Buster’s Entertainment in the second quarter valued at approximately $243,000. Cerity Partners LLC lifted its position in Dave & Buster’s Entertainment by 13.2% during the second quarter. Cerity Partners LLC now owns 22,654 shares of the restaurant operator’s stock worth $681,000 after buying an additional 2,644 shares in the last quarter. Finally, Caption Management LLC boosted its stake in Dave & Buster’s Entertainment by 624.7% during the second quarter. Caption Management LLC now owns 14,153 shares of the restaurant operator’s stock worth $426,000 after buying an additional 12,200 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

Shares of PLAY opened at $10.25 on Monday. The firm has a 50-day simple moving average of $10.66 and a two-hundred day simple moving average of $12.27. The stock has a market cap of $356.60 million, a PE ratio of -5.42 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. The company has a debt-to-equity ratio of 15.01, a current ratio of 0.29 and a quick ratio of 0.20.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings data on Monday, June 15th. The restaurant operator reported $0.22 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 during the quarter, compared to analyst estimates of $580.60 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that Dave & Buster’s Entertainment, Inc. will post -1.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on PLAY shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Friday, July 17th. 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 research report on Tuesday, June 16th. Citizens Jmp initiated coverage on shares of Dave & Buster’s Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. Citigroup assumed coverage on shares of Dave & Buster’s Entertainment in a research report on Monday, June 29th. They set a “market perform” rating for the company. Finally, UBS Group reduced their target price on shares of Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.