North Star Investment Management Corp. Sells 9,000 Shares of Nathan's Famous, Inc. (NASDAQ:NATH)

North Star Investment Management Corp. lowered its holdings in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) by 55.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,370 shares of the restaurant operator's stock after selling 9,000 shares during the period. North Star Investment Management Corp. owned approximately 0.18% of Nathan's Famous worth $710,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. AdvisorShares Investments LLC acquired a new position in shares of Nathan's Famous in the fourth quarter worth $149,000. Wells Fargo & Company MN increased its position in Nathan's Famous by 45.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,056 shares of the restaurant operator's stock worth $162,000 after buying an additional 639 shares during the last quarter. GAMMA Investing LLC increased its position in Nathan's Famous by 9,031.6% during the first quarter. GAMMA Investing LLC now owns 1,735 shares of the restaurant operator's stock worth $167,000 after buying an additional 1,716 shares during the last quarter. Bank of America Corp DE increased its position in Nathan's Famous by 30.8% during the fourth quarter. Bank of America Corp DE now owns 2,820 shares of the restaurant operator's stock worth $222,000 after buying an additional 664 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Nathan's Famous during the first quarter worth $257,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Nathan's Famous Stock Down 1.2%

NATH stock traded down $1.33 during mid-day trading on Wednesday, reaching $109.75. 65,804 shares of the stock traded hands, compared to its average volume of 15,347. Nathan's Famous, Inc. has a 52 week low of $67.44 and a 52 week high of $118.50. The business has a 50-day moving average of $101.93 and a two-hundred day moving average of $92.88. The firm has a market capitalization of $448.88 million, a PE ratio of 18.70 and a beta of 0.35.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter. Nathan's Famous had a net margin of 16.21% and a negative return on equity of 116.79%. The company had revenue of $30.79 million during the quarter.

Nathan's Famous Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, June 23rd. Nathan's Famous's dividend payout ratio (DPR) is 34.07%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Nathan's Famous from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

Nathan's Famous Company Profile

Nathan's Famous, Inc engages in the operation of franchised fast-food units. It is involved in the licensing, wholesaling, and retailing of products marketed under the Nathan's Famous brand. The firm operates through the following business segments: Branded Product Program, Product Licensing, Restaurant Operations, and Corporate.