GEN Restaurant Group (NASDAQ:GENK) Announces Quarterly Earnings Results

Key Points

• GEN Restaurant Group reported quarterly earnings of $0.04 EPS, exceeding analysts' expectations of $0.01 by $0.03, despite revenue falling short at $55.04 million compared to estimated $60.26 million.
• The company announced a recent dividend of $0.03 per share, paid out to shareholders on June 23rd.
• Director Michael Cowan significantly increased his stake in the company by purchasing 30,000 shares at an average price of $3.30 per share, which boosted his ownership by nearly 720%.

GEN Restaurant Group (NASDAQ:GENK - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.03, Zacks reports. The business had revenue of $55.04 million for the quarter, compared to analyst estimates of $60.26 million. GEN Restaurant Group had a positive return on equity of 0.78% and a negative net margin of 0.34%.

GEN Restaurant Group Trading Up 0.9%

Shares of NASDAQ GENK traded up $0.03 during trading on Tuesday, hitting $3.52. 82,777 shares of the company traded hands, compared to its average volume of 91,669. GEN Restaurant Group has a 1 year low of $3.16 and a 1 year high of $10.33. The company has a 50-day moving average price of $3.94 and a 200-day moving average price of $4.65. The firm has a market capitalization of $116.65 million, a P/E ratio of -24.86 and a beta of 1.46. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.12.

GEN Restaurant Group Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 23rd. Stockholders of record on Monday, June 9th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, June 9th.

Insider Activity

In related news, Director Michael Cowan bought 30,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was bought at an average price of $3.30 per share, with a total value of $99,000.00. Following the completion of the transaction, the director directly owned 34,167 shares of the company's stock, valued at approximately $112,751.10. This represents a 719.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 59.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GEN Restaurant Group

A hedge fund recently raised its stake in GEN Restaurant Group stock. Goldman Sachs Group Inc. grew its stake in GEN Restaurant Group, Inc. (NASDAQ:GENK - Free Report) by 29.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,573 shares of the company's stock after purchasing an additional 12,296 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.16% of GEN Restaurant Group worth $296,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 10.22% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark decreased their target price on shares of GEN Restaurant Group from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Friday.

About GEN Restaurant Group

GEN Restaurant Group, Inc operates restaurants in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. It offers meats, poultry, and seafood. The company was founded in 2011 and is based in Cerritos, California.