Fred Alger Management LLC Cuts Stock Holdings in Kura Sushi USA, Inc. (NASDAQ:KRUS)

Fred Alger Management LLC lowered its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 24.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 383,181 shares of the company's stock after selling 122,419 shares during the quarter. Fred Alger Management LLC owned 3.17% of Kura Sushi USA worth $34,709,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRUS. Arcadia Investment Management Corp MI acquired a new position in Kura Sushi USA in the 4th quarter valued at $31,000. Quantbot Technologies LP purchased a new position in shares of Kura Sushi USA during the 4th quarter worth approximately $61,000. BNP Paribas Financial Markets acquired a new stake in shares of Kura Sushi USA in the fourth quarter valued at $77,000. KLP Kapitalforvaltning AS purchased a new stake in Kura Sushi USA during the fourth quarter worth about $109,000. Finally, US Bancorp DE increased its stake in Kura Sushi USA by 43.5% during the 4th quarter. US Bancorp DE now owns 1,805 shares of the company's stock worth $163,000 after buying an additional 547 shares during the period. Hedge funds and other institutional investors own 65.49% of the company's stock.

Kura Sushi USA Stock Performance

NASDAQ KRUS traded up $0.30 during trading hours on Tuesday, reaching $67.12. The company's stock had a trading volume of 146,506 shares, compared to its average volume of 213,370. Kura Sushi USA, Inc. has a fifty-two week low of $40.03 and a fifty-two week high of $121.99. The stock has a market cap of $811.15 million, a PE ratio of -98.70 and a beta of 1.55. The company's 50-day moving average is $55.29 and its two-hundred day moving average is $76.31.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $64.89 million for the quarter, compared to analysts' expectations of $66.30 million. Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. During the same period in the previous year, the business posted ($0.09) EPS. Equities analysts expect that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Lake Street Capital reduced their price target on Kura Sushi USA from $103.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays dropped their price objective on Kura Sushi USA from $75.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Citigroup reduced their price target on shares of Kura Sushi USA from $71.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. TD Cowen started coverage on Kura Sushi USA in a research note on Tuesday, February 25th. They issued a "hold" rating and a $72.00 target price on the stock. Finally, TD Securities reaffirmed a "hold" rating and issued a $72.00 target price on shares of Kura Sushi USA in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.20.

Kura Sushi USA Company Profile