Gabelli Funds LLC lessened its holdings in Nathan’s Famous, Inc. (NASDAQ:NATH – Free Report) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 172,800 shares of the restaurant operator’s stock after selling 200 shares during the period. Gabelli Funds LLC’s holdings in Nathan’s Famous were worth $13,572,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Nathan’s Famous during the second quarter valued at approximately $312,000. Royce & Associates LP lifted its position in Nathan’s Famous by 1.9% during the second quarter. Royce & Associates LP now owns 25,894 shares of the restaurant operator’s stock valued at $2,034,000 after acquiring an additional 494 shares during the last quarter. Virtu Financial LLC purchased a new stake in Nathan’s Famous during the second quarter valued at approximately $359,000. Janney Montgomery Scott LLC lifted its position in Nathan’s Famous by 7.5% during the second quarter. Janney Montgomery Scott LLC now owns 6,190 shares of the restaurant operator’s stock valued at $486,000 after acquiring an additional 434 shares during the last quarter. Finally, UBS Group AG lifted its position in Nathan’s Famous by 60.5% during the first quarter. UBS Group AG now owns 690 shares of the restaurant operator’s stock valued at $52,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 40.76% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Nathan’s Famous from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.
Nathan’s Famous Trading Down 0.8 %
NASDAQ NATH opened at $66.40 on Tuesday. The company has a fifty day simple moving average of $67.63 and a two-hundred day simple moving average of $72.94. The stock has a market cap of $270.91 million, a P/E ratio of 13.83 and a beta of 0.26. Nathan’s Famous, Inc. has a 12-month low of $61.35 and a 12-month high of $83.00.
Nathan’s Famous Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.01%. Nathan’s Famous’s dividend payout ratio is currently 41.67%.
Insiders Place Their Bets
In other news, Director Brian S. Genson sold 2,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $73.02, for a total value of $146,040.00. Following the sale, the director now owns 12,942 shares in the company, valued at $945,024.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.60% of the company’s stock.
Nathan’s Famous 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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