Nathan's Famous (NASDAQ:NATH) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Nathan’s Famous shares fell below their 200-day moving average of $99.90, trading as low as $93.80 and last changing hands at $94.29.
• Despite the technical weakness, Weiss Ratings reiterated a “buy (b-)” rating, and the stock’s lone analyst rating remains “Buy.”
• The company reported quarterly revenue of $54.06 million and earnings per share of $2.14; institutional investors own 66.54% of the stock.

Nathan's Famous, Inc. (NASDAQ:NATH - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $99.90 and traded as low as $93.80. Nathan's Famous shares last traded at $94.29, with a volume of 49,468 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of Nathan's Famous in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy".

Nathan's Famous Price Performance

The firm has a fifty day simple moving average of $97.80 and a 200 day simple moving average of $99.90. The company has a market cap of $386.59 million, a price-to-earnings ratio of 19.52 and a beta of 0.28.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The restaurant operator reported $2.14 earnings per share for the quarter. Nathan's Famous had a net margin of 11.78% and a negative return on equity of 187.25%. The business had revenue of $54.06 million during the quarter.

Institutional Investors Weigh In On Nathan's Famous

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its position in shares of Nathan's Famous by 6.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 291,086 shares of the restaurant operator's stock worth $29,321,000 after purchasing an additional 18,250 shares during the last quarter. BlackRock Inc. acquired a new stake in Nathan's Famous in the 2nd quarter valued at approximately $25,729,000. Gabelli Funds LLC grew its holdings in Nathan's Famous by 9.2% in the 1st quarter. Gabelli Funds LLC now owns 187,000 shares of the restaurant operator's stock valued at $18,837,000 after buying an additional 15,800 shares during the last quarter. Renaissance Technologies LLC increased its position in Nathan's Famous by 8.7% in the 1st quarter. Renaissance Technologies LLC now owns 154,356 shares of the restaurant operator's stock worth $15,548,000 after buying an additional 12,300 shares during the period. Finally, ABC Arbitrage SA bought a new position in Nathan's Famous in the 1st quarter worth approximately $5,435,000. 66.54% of the stock is owned by institutional investors and hedge funds.

About Nathan's Famous

Nathan's Famous, Inc NASDAQ: NATH is a foodservice and consumer packaged foods company best known for its Nathan's Famous hot dogs. The company operates and franchises restaurants and concession locations that serve hot dogs, hamburgers, fries, chicken products, beverages and other casual dining items under the Nathan's Famous brand.

Founded by Nathan Handwerker in 1916 with a hot dog stand in Coney Island, Brooklyn, Nathan's Famous has developed into a nationally recognized food brand.

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