Nathan’s Famous, Inc. (NASDAQ:NATH) Short Interest Update
Nathan’s Famous, Inc. (NASDAQ:NATH) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 53,500 shares, a drop of 16.8% from the June 30th total of 64,300 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 7,000 shares, the days-to-cover ratio is presently 7.6 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of NATH. Bank of Montreal Can boosted its stake in Nathan’s Famous by 157.4% during the second quarter. Bank of Montreal Can now owns 399 shares of the restaurant operator’s stock worth $31,000 after buying an additional 244 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of 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 during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Nathan’s Famous during the second quarter valued at $54,000. Panagora Asset Management Inc. purchased a new stake in shares of Nathan’s Famous during the second quarter valued at $107,000. Finally, Bank of America Corp DE boosted its stake in shares of Nathan’s Famous by 61.4% during the fourth quarter. Bank of America Corp DE now owns 1,737 shares of the restaurant operator’s stock valued at $116,000 after purchasing an additional 661 shares during the period. 41.29% of the stock is owned by institutional investors.
Separately, BidaskClub lowered shares of Nathan’s Famous from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th.
Nathan’s Famous (NASDAQ:NATH) last posted its quarterly earnings data on Friday, August 9th. The restaurant operator reported $1.28 EPS for the quarter. The company had revenue of $30.52 million during the quarter. Nathan’s Famous had a net margin of 21.59% and a negative return on equity of 19.25%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 26th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, August 23rd.
About Nathan’s Famous
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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