ABC Arbitrage SA Acquires Shares of 53,957 Nathan's Famous, Inc. $NATH

Key Points

• ABC Arbitrage SA opened a new position in Nathan’s Famous during the first quarter, buying 53,957 shares valued at about $5.4 million. The stake represented 1.32% of the company based on its latest SEC filing.
• Institutional ownership in Nathan’s Famous remains high, with hedge funds and other investors holding 66.54% of the stock. Several firms also increased their positions, including Tower Research Capital, Legal & General Group, and State of Alaska Department of Revenue.
• Analyst sentiment turned more positive after Weiss Ratings upgraded Nathan’s Famous from hold to buy. The stock also recently reported quarterly EPS of $0.68 and paid a $0.50 per share dividend, equal to a 2.0% annualized yield.

ABC Arbitrage SA acquired a new position in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 53,957 shares of the restaurant operator's stock, valued at approximately $5,435,000. ABC Arbitrage SA owned 1.32% of Nathan's Famous as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Nathan's Famous by 204.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 387 shares of the restaurant operator's stock worth $43,000 after acquiring an additional 260 shares in the last quarter. State of Wyoming acquired a new position in Nathan's Famous during the fourth quarter worth $59,000. Legal & General Group Plc lifted its holdings in Nathan's Famous by 142.0% during the second quarter. Legal & General Group Plc now owns 692 shares of the restaurant operator's stock valued at $77,000 after purchasing an additional 406 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Nathan's Famous by 351.6% during the fourth quarter. State of Alaska Department of Revenue now owns 1,007 shares of the restaurant operator's stock valued at $93,000 after purchasing an additional 784 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Nathan's Famous by 75.7% during the second quarter. Osaic Holdings Inc. now owns 884 shares of the restaurant operator's stock valued at $98,000 after purchasing an additional 381 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

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 research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Nathan's Famous Stock Performance

NATH stock opened at $100.55 on Tuesday. Nathan's Famous, Inc. has a one year low of $88.67 and a one year high of $116.98. The firm has a market cap of $411.25 million, a PE ratio of 20.73 and a beta of 0.27. The firm's 50 day moving average price is $101.25 and its 200-day moving average price is $99.87.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last posted its earnings results on Tuesday, June 9th. The restaurant operator reported $0.68 EPS for the quarter. Nathan's Famous had a negative return on equity of 179.01% and a net margin of 12.35%.The company had revenue of $35.07 million for the quarter.

Nathan's Famous Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, June 22nd. Nathan's Famous's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.