Nathan's Famous (NASDAQ:NATH) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Nathan's Famous has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating potential caution among analysts regarding the stock's performance.
• The stock is currently trading down 2.0% with a twelve-month high of $118.50 and a low of $71.77, reflecting volatility in its market performance.
• Institutional investors and hedge funds own 66.54% of Nathan's Famous, showing notable interest and activity in the stock, including significant position increases by notable firms.

Wall Street Zen downgraded shares of Nathan's Famous (NASDAQ:NATH - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Nathan's Famous Trading Up 1.7%

Shares of NASDAQ:NATH traded up $1.62 on Friday, hitting $98.87. 29,432 shares of the company were exchanged, compared to its average volume of 31,440. Nathan's Famous has a 1-year low of $71.95 and a 1-year high of $118.50. The stock's 50 day moving average price is $105.97 and its 200 day moving average price is $99.15. The firm has a market capitalization of $404.38 million, a P/E ratio of 17.16 and a beta of 0.38.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last posted its 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 125.08%.

Nathan's Famous Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Nathan's Famous's payout ratio is currently 34.72%.

Institutional Trading of Nathan's Famous

A number of institutional investors and hedge funds have recently modified their holdings of NATH. Raymond James Financial Inc. purchased a new stake in shares of Nathan's Famous during the fourth quarter worth about $904,000. Voss Capital LP purchased a new stake in shares of Nathan's Famous during the first quarter worth about $964,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Nathan's Famous during the first quarter worth about $920,000. JPMorgan Chase & Co. increased its stake in shares of 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 in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Nathan's Famous by 187.2% during the fourth quarter. Citadel Advisors LLC now owns 10,088 shares of the restaurant operator's stock worth $793,000 after purchasing an additional 6,575 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

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.