Nathan’s Famous (NASDAQ:NATH) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Nathan’s Famous (NASDAQ:NATH) from a buy rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Shares of NASDAQ:NATH opened at $74.60 on Thursday. The company has a market cap of $314.12 million, a P/E ratio of 23.17 and a beta of 0.27. Nathan’s Famous has a 12 month low of $62.20 and a 12 month high of $102.70. The firm’s 50-day moving average price is $71.57.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a $0.35 dividend. This is an increase from Nathan’s Famous’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, June 21st.



Hedge funds have recently modified their holdings of the business. Sawtooth Solutions LLC purchased a new stake in shares of Nathan’s Famous in the first quarter worth $1,026,000. Martingale Asset Management L P raised its position in Nathan’s Famous by 18.7% during the first quarter. Martingale Asset Management L P now owns 20,964 shares of the restaurant operator’s stock valued at $1,434,000 after purchasing an additional 3,300 shares in the last quarter. Seizert Capital Partners LLC purchased a new stake in Nathan’s Famous during the first quarter valued at about $216,000. BNP Paribas Arbitrage SA raised its position in Nathan’s Famous by 59,700.0% during the first quarter. BNP Paribas Arbitrage SA now owns 598 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 597 shares in the last quarter. Finally, Confluence Investment Management LLC raised its position in Nathan’s Famous by 11.1% during the first quarter. Confluence Investment Management LLC now owns 24,701 shares of the restaurant operator’s stock valued at $1,689,000 after purchasing an additional 2,476 shares in the last quarter. Institutional investors and hedge funds own 41.95% of the company’s stock.

Nathan’s Famous Company Profile

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.

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