ABC Arbitrage SA Buys Shares of 53,957 Nathan’s Famous, Inc. $NATH

ABC Arbitrage SA purchased a new position in shares of Nathan’s Famous, Inc. (NASDAQ:NATH) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 53,957 shares of the restaurant operator’s stock, valued at approximately $5,435,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Nathan’s Famous by 10.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,106 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 103 shares in the last quarter. Cullen Investment Group LTD. raised its stake in shares of Nathan’s Famous by 1.2% in the fourth quarter. Cullen Investment Group LTD. now owns 10,531 shares of the restaurant operator’s stock valued at $956,000 after acquiring an additional 130 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Nathan’s Famous by 2.5% in the fourth quarter. First Trust Advisors LP now owns 8,276 shares of the restaurant operator’s stock valued at $774,000 after acquiring an additional 200 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Nathan’s Famous by 204.7% in the second quarter. Tower Research Capital LLC TRC now owns 387 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 260 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Nathan’s Famous by 15.9% in the fourth quarter. SG Americas Securities LLC now owns 2,214 shares of the restaurant operator’s stock valued at $207,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Nathan’s Famous from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Nathan’s Famous currently has an average rating of “Buy”.

Nathan’s Famous Stock Up 0.0%

Shares of NATH opened at $100.55 on Tuesday. The company has a market capitalization of $411.25 million, a price-to-earnings ratio of 20.73 and a beta of 0.27. Nathan’s Famous, Inc. has a 52-week low of $88.67 and a 52-week high of $116.98. The stock has a 50 day moving average price of $101.25 and a 200 day moving average price of $99.87.

Nathan’s Famous (NASDAQ:NATH) last released its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.68 earnings per share for the quarter. Nathan’s Famous had a net margin of 12.35% and a negative return on equity of 179.01%. The company had revenue of $35.07 million for the quarter.

Nathan’s Famous Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.50 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Nathan’s Famous’s payout ratio is currently 41.24%.

Nathan’s Famous Profile

Nathan’s Famous Inc is a quick-service restaurant company known for its signature all-beef hot dogs and classic American fast-food offerings. The company operates and franchises a network of dining outlets under the Nathan’s Famous brand, serving items such as hamburgers, chicken sandwiches, french fries and specialty sides. In addition to its restaurant business, Nathan’s Famous markets frozen and refrigerated products to retail and foodservice customers across North America.

The company traces its origins to 1916, when founder Nathan Handwerker opened a modest walk-up stand on Coney Island in Brooklyn, New York.