Zacks Investment Research downgraded shares of Famous Dave’s of America, Inc. (NASDAQ:DAVE) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Famous Dave’s owns, operates and franchises barbeque restaurants and blues clubs. The company currently owns locations and franchises locations in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Utah, Maryland and Virginia and has signed development agreements for an additional franchised locations. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts. (Press Release) “
Separately, ValuEngine raised shares of Famous Dave’s of America from a strong sell rating to a sell rating in a research note on Wednesday, August 16th.
Shares of Famous Dave’s of America (NASDAQ DAVE) traded down 1.852% during midday trading on Wednesday, hitting $3.975. The stock had a trading volume of 1,833 shares. The firm has a 50 day moving average price of $4.10 and a 200-day moving average price of $3.91. Famous Dave’s of America has a 52-week low of $3.38 and a 52-week high of $6.60. The stock’s market cap is $27.65 million.
Famous Dave’s of America (NASDAQ:DAVE) last issued its quarterly earnings results on Monday, August 14th. The restaurant operator reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.07. The firm had revenue of $25.30 million for the quarter, compared to analyst estimates of $26.06 million. Famous Dave’s of America had a negative net margin of 6.19% and a positive return on equity of 0.70%. Famous Dave’s of America’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. Equities analysts predict that Famous Dave’s of America will post ($0.06) EPS for the current fiscal year.
In other Famous Dave’s of America news, major shareholder Bandera Partners Llc bought 21,629 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $3.45 per share, with a total value of $74,620.05. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles William Mooty bought 16,256 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $65,024.00. Following the completion of the purchase, the director now directly owns 83,256 shares in the company, valued at $333,024. The disclosure for this purchase can be found here. Insiders acquired a total of 62,092 shares of company stock worth $229,566 over the last three months. Corporate insiders own 27.00% of the company’s stock.
An institutional investor recently raised its position in Famous Dave’s of America stock. Perkins Capital Management Inc. grew its holdings in Famous Dave’s of America, Inc. (NASDAQ:DAVE) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,100 shares of the restaurant operator’s stock after purchasing an additional 18,500 shares during the quarter. Perkins Capital Management Inc. owned about 2.53% of Famous Dave’s of America worth $634,000 as of its most recent SEC filing. 62.42% of the stock is owned by institutional investors.
Famous Dave’s of America Company Profile
Famous Dave’s of America, Inc (Famous Dave’s) operates restaurants. The Company’s restaurants, which offer full table service, feature wood-smoked and off-the-grill entree favorites that fit into the barbeque category. It has the Company-owned and franchise-operated restaurants in the United States, the Commonwealth of Puerto Rico, and Canada, and it operates within the industry segment of foodservice.