Nathan’s Famous, Inc. (NASDAQ:NATH – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $98.61 and traded as high as $101.11. Nathan’s Famous shares last traded at $101.11, with a volume of 9,244 shares changing hands.
More Nathan’s Famous News
Here are the key news stories impacting Nathan’s Famous this week:
- Positive Sentiment: Joey Chestnut, the event’s biggest star and a 17-time champion, has been cleared to compete at Nathan’s Coney Island hot dog contest, which should help preserve attention and viewership around one of the company’s most recognizable brand events. Joey Chestnut to defend hot dog eating title while on probation after pleading guilty to battery
- Positive Sentiment: Multiple reports say Nathan’s has decided not to punish Chestnut over the guilty plea, reducing the chance of disruption to the annual contest and limiting reputational fallout for the brand. Nathan’s hot dog contest won’t punish Joey Chestnut after guilty plea
- Neutral Sentiment: Coverage of Chestnut’s probation and prior arrest drama may add headlines, but the direct business impact to Nathan’s Famous appears limited unless the controversy grows or affects future sponsorship and event planning. Joey Chestnut set to defend hot dog eating title while on probation for battery
Analyst Ratings Changes
Separately, Weiss Ratings upgraded Nathan’s Famous from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.
Nathan’s Famous Stock Performance
The stock has a 50-day simple moving average of $100.90 and a 200 day simple moving average of $98.61. The company has a market cap of $413.54 million, a P/E ratio of 19.44 and a beta of 0.29.
Institutional Trading of Nathan’s Famous
Hedge funds have recently modified their holdings of the company. Teton Advisors LLC bought a new stake in shares of Nathan’s Famous in the 3rd quarter worth approximately $5,349,000. Principal Financial Group Inc. bought a new position in shares of Nathan’s Famous during the 3rd quarter worth approximately $606,000. CenterBook Partners LP bought a new position in shares of Nathan’s Famous during the 3rd quarter worth approximately $3,597,000. SG Americas Securities LLC acquired a new stake in Nathan’s Famous in the 3rd quarter valued at $212,000. Finally, Gabelli Funds LLC boosted its stake in Nathan’s Famous by 0.3% in the 4th quarter. Gabelli Funds LLC now owns 171,200 shares of the restaurant operator’s stock valued at $16,019,000 after buying an additional 500 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.
Nathan’s Famous Company 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.
See Also
- Five stocks we like better than Nathan’s Famous
- Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending
- As Small-Cap Outperformance Continues, These 2 ETFs Provide Exposure
- Silicon Shake-Up: The AI Trade Is Moving Beyond NVIDIA
- The Silver Lining of Last Week’s Hims & Hers Earnings Miss
Receive News & Ratings for Nathan's Famous Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nathan's Famous and related companies with MarketBeat.com's FREE daily email newsletter.
