Royce & Associates LP Acquires 126,003 Shares of Ignite Restaurant Group Inc. (IRG)
Royce & Associates LP raised its position in Ignite Restaurant Group Inc. (NASDAQ:IRG) by 15.6% during the second quarter, Holdings Channel reports. The institutional investor owned 935,518 shares of the company’s stock after buying an additional 126,003 shares during the period. Royce & Associates LP owned about 3.58% of Ignite Restaurant Group worth $1,459,000 as of its most recent SEC filing.
Separately, Renaissance Technologies LLC raised its position in Ignite Restaurant Group by 21.8% in the first quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock worth $275,000 after buying an additional 15,200 shares in the last quarter. 90.06% of the stock is owned by hedge funds and other institutional investors.
Ignite Restaurant Group Inc. (NASDAQ:IRG) traded down 0.5698% during trading on Friday, reaching $0.8899. 18,360 shares of the company’s stock were exchanged. Ignite Restaurant Group Inc. has a 52 week low of $0.75 and a 52 week high of $5.98. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $2.19. The stock’s market capitalization is $23.40 million.
Ignite Restaurant Group (NASDAQ:IRG) last released its earnings results on Wednesday, August 3rd. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.09. Ignite Restaurant Group had a negative return on equity of 90.09% and a negative net margin of 7.63%. The firm had revenue of $130.76 million for the quarter, compared to analysts’ expectations of $137.44 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Ignite Restaurant Group Inc. will post $0.15 EPS for the current year.
About Ignite Restaurant Group
Ignite Restaurant Group, Inc is a diversified restaurant company. The Company operates a portfolio of approximately two restaurant brands, including Joe’s Crab Shack (Joe’s) and Brick House Tavern + Tap (Brick House). The Company’s segments include Joe’s Crab Shack, Brick House Tavern + Tap, and Corporate.
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