Saba Capital Management L.P. Purchases 62,297 Shares of Dave & Buster’s Entertainment, Inc. $PLAY

Saba Capital Management L.P. lifted its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 19.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 382,606 shares of the restaurant operator’s stock after buying an additional 62,297 shares during the quarter. Saba Capital Management L.P.’s holdings in Dave & Buster’s Entertainment were worth $4,144,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PLAY. Weiss Asset Management LP purchased a new position in Dave & Buster’s Entertainment during the first quarter valued at $1,119,000. Arrowstreet Capital Limited Partnership increased its holdings in Dave & Buster’s Entertainment by 44.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,509,752 shares of the restaurant operator’s stock valued at $16,351,000 after acquiring an additional 468,174 shares during the last quarter. First Trust Advisors LP lifted its stake in Dave & Buster’s Entertainment by 20.5% in the 1st quarter. First Trust Advisors LP now owns 90,649 shares of the restaurant operator’s stock worth $982,000 after purchasing an additional 15,424 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Dave & Buster’s Entertainment in the 1st quarter worth $735,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Dave & Buster’s Entertainment by 4.6% during the 1st quarter. SG Americas Securities LLC now owns 663,199 shares of the restaurant operator’s stock valued at $7,182,000 after purchasing an additional 29,051 shares during the last quarter. Institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

Dave & Buster’s Entertainment stock 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 current ratio of 0.29, a quick ratio of 0.20 and a debt-to-equity ratio of 15.01. The firm has a 50-day moving average price of $11.32 and a 200-day moving average price of $13.44. The firm has a market capitalization of $362.86 million, a PE ratio of -5.52 and a beta of 1.84.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Monday, June 15th. The restaurant operator reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). The firm had revenue of $559.20 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that Dave & Buster’s Entertainment, Inc. will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

PLAY has been the subject of a number of research analyst reports. Wall Street Zen lowered Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Friday, July 17th. BMO Capital Markets cut their price target 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. UBS Group reduced their price objective on 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. Finally, Citizens Jmp initiated coverage on Dave & Buster’s Entertainment in a report on Monday, June 29th. They set a “market perform” rating on the stock. Two equities 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 stock. Based on data from MarketBeat, the stock 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.