Wall Street Zen Downgrades Nathan's Famous (NASDAQ:NATH) to Buy

Nathan's Famous (NASDAQ:NATH - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Nathan's Famous Stock Down 2.1%

Nathan's Famous stock traded down $2.43 during midday trading on Friday, hitting $111.55. 31,044 shares of the stock were exchanged, compared to its average volume of 14,668. The company has a fifty day simple moving average of $100.92 and a two-hundred day simple moving average of $92.40. Nathan's Famous has a 52 week low of $66.35 and a 52 week high of $118.50. The stock has a market capitalization of $456.13 million, a PE ratio of 19.23 and a beta of 0.35.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its earnings results on Tuesday, June 10th. The restaurant operator reported $1.03 EPS for the quarter. Nathan's Famous had a net margin of 16.19% and a negative return on equity of 96.05%. The firm had revenue of $30.79 million for the quarter.

Hedge Funds Weigh In On Nathan's Famous

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC grew its stake in shares of Nathan's Famous by 187.2% in the fourth quarter. Citadel Advisors LLC now owns 10,088 shares of the restaurant operator's stock valued at $793,000 after buying an additional 6,575 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Nathan's Famous during the fourth quarter worth $397,000. JPMorgan Chase & Co. boosted its position in Nathan's Famous by 164.1% during the fourth quarter. JPMorgan Chase & Co. now owns 12,527 shares of the restaurant operator's stock worth $985,000 after purchasing an additional 7,783 shares during the period. Raymond James Financial Inc. bought a new position in Nathan's Famous during the fourth quarter worth $904,000. Finally, Annex Advisory Services LLC boosted its position in Nathan's Famous by 18.6% during the first quarter. Annex Advisory Services LLC now owns 21,284 shares of the restaurant operator's stock worth $2,051,000 after purchasing an additional 3,331 shares during the period. 66.54% of the stock is owned by institutional investors.

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.