Zacks Investment Research upgraded shares of Good Times Restaurants Inc. (NASDAQ:GTIM) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Good Times Restaurants Inc. is a holding company. Through its wholly-owned subsidiary, they are engaged in the business of developing, owning, operating and franchising restaurants under the name Good Times Drive Thru Burgers. Good Times DriveThru Burgers restaurants are owned, operated and franchised by their subsidiary, Good Times Drive Thru Inc. Good Times Drive Thru Burgers restaurants feature a limited menu for drive-through and walk-up customers. “
A number of other research analysts also recently weighed in on GTIM. Maxim Group started coverage on Good Times Restaurants in a research note on Thursday, June 22nd. They set a buy rating on the stock. TheStreet downgraded Good Times Restaurants from a c- rating to a d rating in a research note on Friday, August 11th.
Shares of Good Times Restaurants (NASDAQ:GTIM) opened at 3.15 on Wednesday. Good Times Restaurants has a 12 month low of $2.50 and a 12 month high of $3.78. The company has a 50-day moving average price of $2.82 and a 200-day moving average price of $3.21. The firm’s market cap is $39.15 million.
Good Times Restaurants (NASDAQ:GTIM) last posted its quarterly earnings results on Thursday, August 10th. The restaurant operator reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Good Times Restaurants had a negative return on equity of 4.44% and a negative net margin of 2.25%. The firm had revenue of $21.70 million for the quarter, compared to analyst estimates of $21.70 million. Analysts forecast that Good Times Restaurants will post ($0.19) earnings per share for the current fiscal year.
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In related news, Director Alan A. Teran acquired 9,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was purchased at an average cost of $2.90 per share, with a total value of $26,100.00. Following the completion of the purchase, the director now directly owns 40,877 shares in the company, valued at approximately $118,543.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 44,706 shares of company stock worth $123,035. 8.37% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Good Times Restaurants stock. Granite Point Capital Management L.P. increased its holdings in Good Times Restaurants Inc. (NASDAQ:GTIM) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,050 shares of the restaurant operator’s stock after acquiring an additional 16,300 shares during the period. Granite Point Capital Management L.P. owned about 2.22% of Good Times Restaurants worth $969,000 at the end of the most recent quarter. Institutional investors and hedge funds own 32.72% of the company’s stock.
Good Times Restaurants Company Profile
Good Times Restaurants Inc operates and franchises Good Times Burgers & Frozen Custard (Good Times) restaurants and Bad Daddy’s Burger Bar concept (Bad Daddy’s). The Company operates through two segments: Good Times Burgers and Frozen Custard restaurants, and Bad Daddy’s Burger Bar restaurants. Good Times is a quick service restaurant concept.
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