Rave Restaurant Group (NASDAQ:RAVE) Announces Earnings Results

Rave Restaurant Group (NASDAQ:RAVE) announced its earnings results on Thursday. The restaurant operator reported $0.05 EPS for the quarter, FiscalAI reports. Rave Restaurant Group had a return on equity of 19.22% and a net margin of 23.19%.The company had revenue of $3.43 million for the quarter.

Rave Restaurant Group Stock Down 2.5%

Shares of RAVE opened at $2.75 on Thursday. The stock’s fifty day simple moving average is $3.07 and its 200-day simple moving average is $2.93. The firm has a market capitalization of $39.08 million, a PE ratio of 13.10 and a beta of 0.43. Rave Restaurant Group has a 12-month low of $2.25 and a 12-month high of $3.70.

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its position in shares of Rave Restaurant Group by 32.3% during the 2nd quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock valued at $108,000 after acquiring an additional 8,067 shares during the last quarter. James Investment Research Inc. increased its holdings in Rave Restaurant Group by 56.2% in the first quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 9,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rave Restaurant Group by 6.8% during the first quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after buying an additional 11,205 shares during the last quarter. BlackRock Inc. bought a new position in shares of Rave Restaurant Group during the second quarter worth $233,000. Finally, Saber Capital Managment LLC acquired a new stake in Rave Restaurant Group during the 4th quarter worth $514,000. 15.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rave Restaurant Group in a research report on Friday, July 31st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Rave Restaurant Group Company Profile

RAVE Restaurant Group, Inc is a restaurant company that develops, franchises and operates pizza concepts. Its principal brands are Pizza Inn, a traditional pizza restaurant known for dine-in, buffet, carryout and delivery offerings, and Pie Five Pizza Co, a fast-casual concept specializing in individually customized pizzas with a variety of crusts, sauces, cheeses and toppings.

Through its franchising activities, RAVE supports restaurants operated by franchisees and maintains a presence in markets in the United States and internationally.