Gabelli Funds LLC Lowers Stock Position in Nathan’s Famous, Inc. (NASDAQ:NATH)

Gabelli Funds LLC lessened its holdings in Nathan’s Famous, Inc. (NASDAQ:NATH) 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 have also recently modified their holdings of the company. UBS Group AG lifted its position in Nathan’s Famous by 38.5% during the second quarter. UBS Group AG now owns 630 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 175 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Nathan’s Famous by 217.9% during the second quarter. BNP Paribas Arbitrage SA now owns 941 shares of the restaurant operator’s stock valued at $55,000 after acquiring an additional 645 shares during the last quarter. Barclays PLC lifted its position in Nathan’s Famous by 772.6% during the fourth quarter. Barclays PLC now owns 986 shares of the restaurant operator’s stock valued at $66,000 after acquiring an additional 873 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its position in Nathan’s Famous by 61,950.0% during the second quarter. BNP Paribas Arbitrage SNC now owns 1,241 shares of the restaurant operator’s stock valued at $97,000 after acquiring an additional 1,239 shares during the last quarter. Finally, American International Group Inc. purchased a new stake in Nathan’s Famous during the second quarter valued at approximately $107,000. 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.

Insiders Place Their Bets

In other Nathan’s Famous news, Director Brian S. Genson sold 2,000 shares of the firm’s 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 completion of the transaction, the director now owns 12,942 shares of the company’s stock, valued at $945,024.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 31.60% of the company’s stock.

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%.

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.