Nathan’s Famous (NASDAQ:NATH) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Nathan’s Famous, Inc. (NASDAQ:NATH) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $100.14 and traded as low as $97.96. Nathan’s Famous shares last traded at $98.18, with a volume of 21,337 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Nathan’s Famous in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Nathan’s Famous currently has an average rating of “Buy”.

Nathan’s Famous Price Performance

The firm’s 50 day moving average price is $100.76 and its 200-day moving average price is $100.14. The firm has a market cap of $401.56 million, a price-to-earnings ratio of 20.24 and a beta of 0.27.

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

Nathan’s Famous Dividend Announcement

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

Institutional Investors Weigh In On Nathan’s Famous

A number of institutional investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in Nathan’s Famous during the first quarter valued at about $745,000. Lazard Asset Management LLC lifted its position in shares of Nathan’s Famous by 559.6% in the 1st quarter. Lazard Asset Management LLC now owns 17,308 shares of the restaurant operator’s stock worth $1,743,000 after acquiring an additional 14,684 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Nathan’s Famous in the 1st quarter worth approximately $3,022,000. Renaissance Technologies LLC lifted its position in shares of Nathan’s Famous by 8.7% in the 1st quarter. Renaissance Technologies LLC now owns 154,356 shares of the restaurant operator’s stock worth $15,548,000 after acquiring an additional 12,300 shares during the period. Finally, Gabelli Funds LLC grew its holdings in shares of Nathan’s Famous by 9.2% during the 1st quarter. Gabelli Funds LLC now owns 187,000 shares of the restaurant operator’s stock worth $18,837,000 after purchasing an additional 15,800 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.