Zacks Investment Research Upgrades Diversified Restaurant (SAUC) to “Hold”
Zacks Investment Research upgraded shares of Diversified Restaurant (NASDAQ:SAUC) from a strong sell rating to a hold rating in a research report released 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. “
Separately, ValuEngine lowered shares of Diversified Restaurant from a hold rating to a sell rating in a research note on Thursday, August 2nd.
Diversified Restaurant (NASDAQ:SAUC) last released its quarterly earnings data on Wednesday, August 8th. The restaurant operator reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $37.04 million for the quarter. analysts anticipate that Diversified Restaurant will post -0.09 EPS for the current fiscal year.
In related news, CFO Phyllis A. Knight acquired 50,000 shares of the stock in a transaction dated Tuesday, July 24th. The stock was bought at an average price of $1.00 per share, for a total transaction of $50,000.00. Following the purchase, the chief financial officer now directly owns 304,799 shares of the company’s stock, valued at approximately $304,799. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman T. Michael Ansley sold 700,000 shares of Diversified Restaurant stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $1.00, for a total transaction of $700,000.00. Following the completion of the sale, the chairman now owns 2,314,557 shares of the company’s stock, valued at approximately $2,314,557. The disclosure for this sale can be found here. Insiders own 48.20% of the company’s stock.
An institutional investor recently raised its position in Diversified Restaurant stock. Poehling Capital Management LLC boosted its holdings in Diversified Restaurant Holdings, Inc (NASDAQ:SAUC) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 814,825 shares of the restaurant operator’s stock after purchasing an additional 67,241 shares during the quarter. Poehling Capital Management LLC owned about 3.03% of Diversified Restaurant worth $1,100,000 at the end of the most recent quarter. 7.70% of the stock is owned by hedge funds and other institutional investors.
Diversified Restaurant Company Profile
Diversified Restaurant Holdings, Inc, a restaurant company, operates Buffalo Wild Wings franchised restaurants in the United States. The company primarily offers fresh bone-in chicken wings, frozen boneless chicken, and potatoes. As of March 8, 2018, it operated 65 franchised restaurants in Florida, Illinois, Indiana, Michigan, and Missouri.
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