Rave Restaurant Group (NASDAQ:RAVE) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a note issued to investors on Thursday. The firm set a “buy” rating on the restaurant operator’s stock.

Separately, TheStreet cut Rave Restaurant Group from a “b” rating to a “c+” rating in a research report on Wednesday, December 20th.

Rave Restaurant Group Stock Down 3.5 %

Shares of RAVE stock opened at $2.06 on Thursday. Rave Restaurant Group has a 52-week low of $1.48 and a 52-week high of $2.64. The stock’s 50-day moving average price is $1.96 and its 200 day moving average price is $2.12. The stock has a market capitalization of $29.98 million, a PE ratio of 15.81 and a beta of 0.33.

Rave Restaurant Group (NASDAQ:RAVE) last released its earnings results on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 18.06% and a net margin of 15.94%. The company had revenue of $2.79 million for the quarter.

Insider Activity

In related news, insider Value Llp Ima purchased 51,921 shares of Rave Restaurant Group stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $1.96 per share, for a total transaction of $101,765.16. Following the transaction, the insider now owns 1,011,807 shares in the company, valued at $1,983,141.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders purchased 103,762 shares of company stock worth $203,066. Company insiders own 27.80% of the company’s stock.

Institutional Investors Weigh In On Rave Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Rave Restaurant Group by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 137,411 shares of the restaurant operator’s stock valued at $217,000 after acquiring an additional 6,896 shares during the period. Corsair Capital Management L.P. increased its stake in shares of Rave Restaurant Group by 5.0% during the 4th quarter. Corsair Capital Management L.P. now owns 172,573 shares of the restaurant operator’s stock worth $385,000 after purchasing an additional 8,258 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Rave Restaurant Group during the 3rd quarter worth approximately $36,000. Renaissance Technologies LLC increased its stake in shares of Rave Restaurant Group by 8.6% during the 4th quarter. Renaissance Technologies LLC now owns 264,864 shares of the restaurant operator’s stock worth $418,000 after purchasing an additional 21,064 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Rave Restaurant Group during the 4th quarter worth approximately $85,000. 15.12% of the stock is currently owned by institutional investors and hedge funds.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.