Zacks Investment Research Upgrades Diversified Restaurant (SAUC) to Hold
Diversified Restaurant (NASDAQ:SAUC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Diversified Restaurant Holdings, Inc. is engaged in restaurant business. It is the creator, developer, operator and franchisor of ultra-casual restaurants and bars. The company operates two complementary concepts: Bagger Dave’s Legendary Burger Tavern(R) and Buffalo Wild Wings(R). It operates primarily in Michigan, Florida, Illinois, Indiana and Missouri. Diversified Restaurant Holdings, Inc. is based in Southfield, Michigan. “
Shares of Diversified Restaurant (NASDAQ SAUC) opened at $1.63 on Wednesday. The company has a market capitalization of $43.01, a price-to-earnings ratio of 160.00 and a beta of 1.32. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of -29.67. Diversified Restaurant has a 12-month low of $1.26 and a 12-month high of $4.12.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Diversified Restaurant during the third quarter valued at $293,000. Arrowstreet Capital Limited Partnership acquired a new stake in Diversified Restaurant during the second quarter valued at $409,000. Goldman Sachs Group Inc. boosted its position in Diversified Restaurant by 164.9% during the second quarter. Goldman Sachs Group Inc. now owns 134,543 shares of the restaurant operator’s stock valued at $350,000 after purchasing an additional 83,753 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Diversified Restaurant during the second quarter valued at $413,000. Finally, Virtu KCG Holdings LLC boosted its position in Diversified Restaurant by 55.8% during the second quarter. Virtu KCG Holdings LLC now owns 59,163 shares of the restaurant operator’s stock valued at $154,000 after purchasing an additional 21,181 shares during the last quarter. 8.73% of the stock is owned by hedge funds and other institutional investors.
About Diversified Restaurant
Diversified Restaurant Holdings, Inc (DRH) is a restaurant company. The Company is a franchisee of Buffalo Wild Wings (BWW).As of September 25, 2016, the Company operated 64 BWW restaurants, which are located in Michigan, Florida, Missouri, Illinois and Indiana. The BWW restaurants feature a range of menu items with a multimedia social environment, a bar and an open layout designed to create a dining experience for sports fans and families.
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