Benchmark Issues Pessimistic Forecast for GEN Restaurant Group (NASDAQ:GENK) Stock Price

Key Points

• Benchmark has decreased its price target for GEN Restaurant Group from $8.00 to $6.00 while maintaining a "buy" rating, indicating a potential upside of 73.96%.
• GEN Restaurant Group reported a quarterly earnings per share of $0.04, exceeding estimates, but its revenue fell short at $55.04 million compared to the expected $60.26 million.
• Director Michael Cowan has significantly increased their stake in the company by purchasing 30,000 shares, representing a 719.94% increase in their holdings.

GEN Restaurant Group (NASDAQ:GENK - Get Free Report) had its target price dropped by research analysts at Benchmark from $8.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price objective suggests a potential upside of 73.96% from the stock's previous close.

GEN Restaurant Group Price Performance

GEN Restaurant Group stock traded up $0.02 during trading hours on Friday, hitting $3.45. 69,681 shares of the stock were exchanged, compared to its average volume of 91,158. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market capitalization of $114.30 million, a P/E ratio of -24.43 and a beta of 1.46. GEN Restaurant Group has a 12 month low of $3.16 and a 12 month high of $10.33. The business's 50-day moving average is $3.93 and its two-hundred day moving average is $4.73.

GEN Restaurant Group (NASDAQ:GENK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. GEN Restaurant Group had a negative net margin of 0.34% and a positive return on equity of 0.77%. The business had revenue of $55.04 million for the quarter, compared to analyst estimates of $60.26 million. Equities research analysts expect that GEN Restaurant Group will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other GEN Restaurant Group news, Director Michael Cowan acquired 30,000 shares of the stock in a transaction on Friday, May 30th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $99,000.00. Following the completion of the acquisition, the director owned 34,167 shares in the company, valued at approximately $112,751.10. This represents a 719.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 59.10% of the company's stock.

Institutional Trading of GEN Restaurant Group

Several institutional investors and hedge funds have recently bought and sold shares of GENK. Renaissance Technologies LLC lifted its holdings in shares of GEN Restaurant Group by 235.8% in the 4th quarter. Renaissance Technologies LLC now owns 54,400 shares of the company's stock worth $407,000 after acquiring an additional 38,200 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of GEN Restaurant Group by 17.7% in the fourth quarter. Wasatch Advisors LP now owns 986,957 shares of the company's stock worth $7,382,000 after buying an additional 148,506 shares during the period. Northern Trust Corp increased its stake in shares of GEN Restaurant Group by 68.3% in the fourth quarter. Northern Trust Corp now owns 25,071 shares of the company's stock worth $188,000 after buying an additional 10,176 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in shares of GEN Restaurant Group in the fourth quarter worth $143,000. Finally, Skylands Capital LLC increased its stake in shares of GEN Restaurant Group by 9.1% in the first quarter. Skylands Capital LLC now owns 266,176 shares of the company's stock worth $1,469,000 after buying an additional 22,184 shares during the period. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

About GEN Restaurant Group

GEN Restaurant Group, Inc operates restaurants in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. It offers meats, poultry, and seafood. The company was founded in 2011 and is based in Cerritos, California.

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