BlackRock Inc. Purchases 389,525 Shares of Ruth’s Hospitality Group, Inc. (RUTH)

BlackRock Inc. grew its position in shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,287,383 shares of the restaurant operator’s stock after acquiring an additional 389,525 shares during the quarter. BlackRock Inc. owned about 14.10% of Ruth’s Hospitality Group worth $93,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in shares of Ruth’s Hospitality Group by 77.1% during the second quarter. State of Alaska Department of Revenue now owns 5,826 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 2,536 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Ruth’s Hospitality Group by 7.0% during the first quarter. Mason Street Advisors LLC now owns 6,935 shares of the restaurant operator’s stock worth $139,000 after buying an additional 455 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Ruth’s Hospitality Group during the first quarter worth $184,000. HL Financial Services LLC bought a new stake in Ruth’s Hospitality Group during the second quarter worth $206,000. Finally, Trexquant Investment LP bought a new stake in Ruth’s Hospitality Group during the second quarter worth $209,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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Shares of Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) opened at 20.70 on Friday. Ruth’s Hospitality Group, Inc. has a one year low of $14.10 and a one year high of $22.65. The company has a market cap of $629.42 million, a P/E ratio of 20.45 and a beta of 0.33. The company’s 50-day moving average price is $20.47 and its 200 day moving average price is $20.70.

Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its quarterly earnings data on Friday, July 28th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $99.34 million. Ruth’s Hospitality Group had a return on equity of 37.86% and a net margin of 7.97%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, equities research analysts anticipate that Ruth’s Hospitality Group, Inc. will post $1.07 earnings per share for the current year.

Several brokerages recently issued reports on RUTH. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Ruth’s Hospitality Group in a report on Tuesday, July 25th. Zacks Investment Research downgraded Ruth’s Hospitality Group from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. BidaskClub downgraded Ruth’s Hospitality Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price target on shares of Ruth’s Hospitality Group in a report on Sunday, July 30th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $24.00 price target (up previously from $22.50) on shares of Ruth’s Hospitality Group in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.00.

About Ruth’s Hospitality Group

Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.

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Institutional Ownership by Quarter for Ruth`s Hospitality Group (NASDAQ:RUTH)

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