Granahan Investment Management LLC Sells 179,191 Shares of Kura Sushi USA, Inc. $KRUS

Key Points

• Granahan Investment Management reduced its Kura Sushi USA stake by 22.8% in the first quarter, selling 179,191 shares and leaving it with 607,917 shares worth about $42.4 million.
• Kura Sushi USA stock was down about 2% and traded at $44.17, near its 12-month low of $42.62 and well below its 12-month high of $91.29.
• The company beat earnings expectations with Q3 EPS of $0.03 versus an expected loss, though revenue came in slightly below estimates and analysts currently rate the stock a consensus Hold with a $69 price target.

Granahan Investment Management LLC cut its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 22.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607,917 shares of the company's stock after selling 179,191 shares during the quarter. Kura Sushi USA makes up approximately 2.1% of Granahan Investment Management LLC's investment portfolio, making the stock its 10th largest holding. Granahan Investment Management LLC owned approximately 5.00% of Kura Sushi USA worth $42,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stephens Inc. AR lifted its position in Kura Sushi USA by 31.9% during the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company's stock worth $77,276,000 after acquiring an additional 267,955 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Kura Sushi USA during the fourth quarter worth approximately $19,194,000. Ameriprise Financial Inc. lifted its holdings in Kura Sushi USA by 17.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company's stock worth $29,780,000 after purchasing an additional 51,574 shares during the last quarter. Woodline Partners LP boosted its stake in Kura Sushi USA by 270.3% in the 3rd quarter. Woodline Partners LP now owns 292,014 shares of the company's stock valued at $17,349,000 after purchasing an additional 213,158 shares during the period. Finally, Marshall Wace LLP grew its holdings in Kura Sushi USA by 0.3% in the 3rd quarter. Marshall Wace LLP now owns 287,060 shares of the company's stock valued at $17,054,000 after buying an additional 985 shares in the last quarter. Institutional investors own 65.49% of the company's stock.

Kura Sushi USA Stock Down 2.0%

Kura Sushi USA stock opened at $44.17 on Friday. The stock has a market cap of $536.67 million, a PE ratio of -245.38 and a beta of 1.33. Kura Sushi USA, Inc. has a 12-month low of $42.62 and a 12-month high of $91.29. The business's 50-day moving average price is $51.01 and its two-hundred day moving average price is $59.75.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.08. The company had revenue of $85.92 million for the quarter, compared to the consensus estimate of $86.45 million. Kura Sushi USA had a negative net margin of 0.65% and a negative return on equity of 0.18%. As a group, analysts expect that Kura Sushi USA, Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Kura Sushi USA from $60.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Kura Sushi USA from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Roth Capital lowered their target price on shares of Kura Sushi USA from $85.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings cut Kura Sushi USA from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, May 12th. Finally, Citigroup reduced their price target on Kura Sushi USA from $64.00 to $59.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $69.00.

Kura Sushi USA Company Profile

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company's concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.

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