Nathan’s Famous (NASDAQ:NATH) Shares Pass Above 200-Day Moving Average – Here’s Why

Nathan’s Famous, Inc. (NASDAQ:NATH)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $99.23 and traded as high as $101.47. Nathan’s Famous shares last traded at $100.79, with a volume of 23,016 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Nathan’s Famous from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Nathan’s Famous Stock Up 0.5%

The firm’s 50-day simple moving average is $101.23 and its 200-day simple moving average is $99.33. The firm has a market capitalization of $417.92 million, a PE ratio of 21.05 and a beta of 0.28.

Nathan’s Famous (NASDAQ:NATH) last released its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.68 EPS for the quarter. The firm had revenue of $35.07 million for the quarter. Nathan’s Famous had a negative return on equity of 179.01% and a net margin of 12.35%.

Nathan’s Famous Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 22nd. Nathan’s Famous’s dividend payout ratio is 41.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Nathan’s Famous by 10.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,106 shares of the restaurant operator’s stock valued at $103,000 after acquiring an additional 103 shares during the last quarter. Cullen Investment Group LTD. increased its holdings in Nathan’s Famous by 1.2% during the 4th quarter. Cullen Investment Group LTD. now owns 10,531 shares of the restaurant operator’s stock valued at $956,000 after purchasing an additional 130 shares during the period. First Trust Advisors LP increased its holdings in Nathan’s Famous by 2.5% during the 4th quarter. First Trust Advisors LP now owns 8,276 shares of the restaurant operator’s stock valued at $774,000 after purchasing an additional 200 shares during the period. Tower Research Capital LLC TRC raised its position in Nathan’s Famous by 204.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 387 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 260 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Nathan’s Famous by 15.9% during the 4th quarter. SG Americas Securities LLC now owns 2,214 shares of the restaurant operator’s stock valued at $207,000 after purchasing an additional 304 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Nathan’s Famous Company Profile

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.