Teton Advisors Inc. Sells 13,900 Shares of Nathan's Famous, Inc. $NATH

Key Points

• Teton Advisors Inc. has reduced its stake in Nathan's Famous, Inc. by 18.0%, now holding 63,500 shares worth approximately $6.12 million.
• The company plans to issue a quarterly dividend of $0.50, leading to an annual yield of 1.9% as of the upcoming payout date of September 5th.
• Analysts at Wall Street Zen have downgraded Nathan's Famous from a "buy" to a "hold" rating, reflecting new market sentiment.

Teton Advisors Inc. lowered its holdings in shares of Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,500 shares of the restaurant operator's stock after selling 13,900 shares during the quarter. Nathan's Famous accounts for about 3.8% of Teton Advisors Inc.'s portfolio, making the stock its 2nd biggest position. Teton Advisors Inc. owned about 1.55% of Nathan's Famous worth $6,120,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC boosted its stake in shares of Nathan's Famous by 34.1% during the 1st quarter. CWM LLC now owns 822 shares of the restaurant operator's stock worth $79,000 after acquiring an additional 209 shares during the period. Rhumbline Advisers raised its holdings in Nathan's Famous by 6.8% in the 1st quarter. Rhumbline Advisers now owns 4,171 shares of the restaurant operator's stock valued at $402,000 after acquiring an additional 267 shares during the period. Northern Trust Corp boosted its holdings in shares of Nathan's Famous by 1.6% during the fourth quarter. Northern Trust Corp now owns 27,011 shares of the restaurant operator's stock worth $2,123,000 after acquiring an additional 426 shares during the period. Russell Investments Group Ltd. boosted its stake in Nathan's Famous by 4.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,120 shares of the restaurant operator's stock valued at $975,000 after purchasing an additional 432 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Nathan's Famous by 8.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,492 shares of the restaurant operator's stock valued at $529,000 after buying an additional 438 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Nathan's Famous from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Nathan's Famous Trading Down 1.4%

NATH stock opened at $107.3890 on Tuesday. The stock has a market capitalization of $439.11 million, a P/E ratio of 18.64 and a beta of 0.38. The firm has a 50-day moving average price of $104.90 and a 200-day moving average price of $100.88. Nathan's Famous, Inc. has a 12 month low of $74.60 and a 12 month high of $118.50.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter. The company had revenue of $47.00 million during the quarter. Nathan's Famous had a net margin of 15.74% and a negative return on equity of 143.21%.

Nathan's Famous Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 25th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, August 25th. Nathan's Famous's dividend payout ratio is presently 34.72%.

About Nathan's Famous

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.

Want to see what other hedge funds are holding NATH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nathan's Famous, Inc. (NASDAQ:NATH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.