Short Interest in Nathan's Famous, Inc. (NASDAQ:NATH) Increases By 33.5%

Key Points

• Short interest in Nathan's Famous rose 33.5% in March to 132,502 shares as of March 13, equal to about 4.7% of the stock and a 3.9‑day days‑to‑cover ratio based on average volume.
• Shares recently traded near $100.68 with a market capitalization of roughly $412 million, a trailing PE of about 19.4, and a one‑year trading range of $88.00–$118.50.
• Nathan's pays a quarterly dividend of $0.50 (annualized $2.00, ~2.0% yield), is about 66.5% institutionally owned, and has a consensus Buy rating from analysts.

Nathan's Famous, Inc. (NASDAQ:NATH - Get Free Report) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 132,502 shares, an increase of 33.5% from the February 26th total of 99,240 shares. Currently, 4.7% of the company's stock are short sold. Based on an average daily volume of 34,115 shares, the days-to-cover ratio is presently 3.9 days.

Nathan's Famous Price Performance

NASDAQ:NATH traded up $0.19 during mid-day trading on Friday, hitting $100.68. 11,207 shares of the company's stock were exchanged, compared to its average volume of 28,805. The company has a market cap of $411.78 million, a PE ratio of 19.36 and a beta of 0.33. Nathan's Famous has a one year low of $88.00 and a one year high of $118.50. The business has a fifty day moving average price of $100.48 and a 200 day moving average price of $100.42.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its earnings results on Thursday, February 5th. The restaurant operator reported $0.75 earnings per share for the quarter. Nathan's Famous had a net margin of 13.59% and a negative return on equity of 182.42%. The business had revenue of $34.31 million during the quarter.

Nathan's Famous Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Nathan's Famous's payout ratio is presently 38.46%.

Institutional Investors Weigh In On Nathan's Famous

A number of institutional investors have recently modified their holdings of the stock. Teton Advisors LLC purchased a new position in shares of Nathan's Famous in the 3rd quarter worth about $5,349,000. CenterBook Partners LP purchased a new stake in Nathan's Famous during the 3rd quarter valued at about $3,597,000. Arrowstreet Capital Limited Partnership grew its position in Nathan's Famous by 155.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 36,188 shares of the restaurant operator's stock valued at $4,002,000 after purchasing an additional 21,998 shares during the last quarter. Millennium Management LLC increased its stake in Nathan's Famous by 217.3% during the 3rd quarter. Millennium Management LLC now owns 28,666 shares of the restaurant operator's stock valued at $3,174,000 after purchasing an additional 19,633 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Nathan's Famous during the 3rd quarter valued at about $1,669,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nathan's Famous in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Nathan's Famous presently has a consensus rating of "Buy".

About Nathan's Famous

Nathan's Famous Inc is a quick-service restaurant company known for its signature all-beef hot dogs and classic American fast-food offerings. The company operates and franchises a network of dining outlets under the Nathan's Famous brand, serving items such as hamburgers, chicken sandwiches, french fries and specialty sides. In addition to its restaurant business, Nathan's Famous markets frozen and refrigerated products to retail and foodservice customers across North America.

The company traces its origins to 1916, when founder Nathan Handwerker opened a modest walk-up stand on Coney Island in Brooklyn, New York.

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