Bank of America Corp DE Acquires 11,779 Shares of Nathan's Famous, Inc. $NATH

Key Points

• Bank of America acquired 11,779 shares of Nathan’s Famous during the second quarter, valued at approximately $1.2 million and representing about 0.29% of the company. Institutional investors collectively own 66.54% of the stock.
• Nathan’s Famous reported quarterly revenue of $54.06 million and earnings of $2.14 per share. The stock opened at $101.40, with a market capitalization of roughly $415.7 million.
• Analyst sentiment remains favorable: Nathan’s Famous has an average “Buy” rating, although Wall Street Zen recently upgraded the stock to “Hold.”

Bank of America Corp DE acquired a new position in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,779 shares of the restaurant operator's stock, valued at approximately $1,197,000. Bank of America Corp DE owned approximately 0.29% of Nathan's Famous as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc bought a new position in Nathan's Famous during the second quarter valued at approximately $28,000. Longfellow Investment Management Co. LLC bought a new stake in Nathan's Famous in the 2nd quarter worth approximately $153,000. Callan Family Office LLC purchased a new stake in Nathan's Famous during the 2nd quarter valued at $216,000. Deutsche Bank AG purchased a new stake in Nathan's Famous during the 2nd quarter valued at $293,000. Finally, Sei Investments Co. bought a new position in shares of Nathan's Famous during the 1st quarter valued at $521,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Nathan's Famous Price Performance

Shares of NATH stock opened at $101.40 on Friday. Nathan's Famous, Inc. has a one year low of $88.67 and a one year high of $113.86. The company's fifty day moving average price is $98.20 and its 200-day moving average price is $99.93. The company has a market capitalization of $415.74 million, a price-to-earnings ratio of 20.99 and a beta of 0.25.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The restaurant operator reported $2.14 earnings per share for the quarter. Nathan's Famous had a negative return on equity of 187.25% and a net margin of 11.78%.The firm had revenue of $54.06 million during the quarter.

Analyst Ratings Changes

Several brokerages recently commented on NATH. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nathan's Famous in a report on Friday, July 17th. Wall Street Zen raised Nathan's Famous to a "hold" rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Nathan's Famous presently has an average rating of "Buy".

About Nathan's Famous

Nathan's Famous, Inc NASDAQ: NATH is a foodservice and consumer packaged foods company best known for its Nathan's Famous hot dogs. The company operates and franchises restaurants and concession locations that serve hot dogs, hamburgers, fries, chicken products, beverages and other casual dining items under the Nathan's Famous brand.

Founded by Nathan Handwerker in 1916 with a hot dog stand in Coney Island, Brooklyn, Nathan's Famous has developed into a nationally recognized food brand.

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.