Nathan’s Famous (NASDAQ:NATH) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Nathan’s Famous (NASDAQ:NATH) from a hold rating to a sell rating in a report released on Saturday morning, BidAskClub reports.

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Shares of NASDAQ NATH traded down $0.55 during trading on Friday, reaching $75.00. The stock had a trading volume of 11,000 shares, compared to its average volume of 6,405. The company has a market cap of $329.18 million, a P/E ratio of 23.11 and a beta of 0.29. The business’s 50-day moving average price is $72.75 and its 200-day moving average price is $70.41. Nathan’s Famous has a fifty-two week low of $62.20 and a fifty-two week high of $80.76.

Nathan’s Famous (NASDAQ:NATH) last posted its earnings results on Friday, August 9th. The restaurant operator reported $1.28 earnings per share for the quarter. Nathan’s Famous had a negative return on equity of 19.83% and a net margin of 21.59%. The business had revenue of $30.52 million during the quarter.

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Nathan’s Famous by 157.4% in the 2nd quarter. Bank of Montreal Can now owns 399 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 244 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Nathan’s Famous in the 2nd quarter valued at about $54,000. Panagora Asset Management Inc. purchased a new stake in shares of Nathan’s Famous in the 2nd quarter valued at about $107,000. Marshall Wace LLP purchased a new stake in shares of Nathan’s Famous in the 2nd quarter valued at about $312,000. Finally, Rhumbline Advisers lifted its holdings in shares of Nathan’s Famous by 6.3% in the 3rd quarter. Rhumbline Advisers now owns 4,195 shares of the restaurant operator’s stock valued at $301,000 after purchasing an additional 249 shares during the last quarter. 41.58% of the stock is owned by institutional investors and hedge funds.

Nathan’s Famous Company Profile

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.

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