Weiss Asset Management LP Makes New $1.12 Million Investment in Dave & Buster’s Entertainment, Inc. $PLAY

Weiss Asset Management LP acquired a new position in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 103,301 shares of the restaurant operator’s stock, valued at approximately $1,119,000. Weiss Asset Management LP owned 0.30% 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 added to or reduced their stakes in PLAY. Nomura Holdings Inc. boosted its stake in shares of Dave & Buster’s Entertainment by 532.9% in the 3rd quarter. Nomura Holdings Inc. now owns 2,411,191 shares of the restaurant operator’s stock valued at $43,787,000 after purchasing an additional 2,030,186 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in 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 last quarter. Goldman Sachs Group Inc. lifted its holdings in Dave & Buster’s Entertainment by 22.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,511,591 shares of the restaurant operator’s stock valued at $24,503,000 after buying an additional 276,064 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Dave & Buster’s Entertainment by 44.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,509,752 shares of the restaurant operator’s stock valued at $16,351,000 after buying an additional 468,174 shares during the period. Finally, State Street Corp boosted its position in Dave & Buster’s Entertainment by 2.6% during the fourth quarter. State Street Corp now owns 1,106,488 shares of the restaurant operator’s stock valued at $17,936,000 after acquiring an additional 28,349 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Stock Up 5.7%

PLAY stock opened at $10.43 on Tuesday. The firm has a market capitalization of $362.86 million, a PE ratio of -5.52 and a beta of 1.84. 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, Inc. has a twelve month low of $9.40 and a twelve month high of $33.30. The stock’s 50 day moving average is $11.32 and its 200-day moving average is $13.44.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings data on Monday, June 15th. The restaurant operator reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $580.60 million. During the same quarter last year, the business posted $0.76 earnings per share. Dave & Buster’s Entertainment’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that Dave & Buster’s Entertainment, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLAY. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Friday, July 17th. Citigroup assumed coverage on Dave & Buster’s Entertainment in a research report on Monday, June 29th. They set a “market perform” rating on the stock. Citizens Jmp assumed coverage on Dave & Buster’s Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. Piper Sandler dropped their price target on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Finally, Wall Street Zen cut Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Dave & Buster’s Entertainment presently has an average rating of “Hold” and a consensus price target of $19.33.

About Dave & Buster’s Entertainment

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.