Two Sigma Investments LP Cuts Stake in Del Frisco’s Restaurant Group (DFRG)

Two Sigma Investments LP lowered its stake in shares of Del Frisco’s Restaurant Group (NASDAQ:DFRG) by 76.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,467 shares of the restaurant operator’s stock after selling 113,111 shares during the period. Two Sigma Investments LP’s holdings in Del Frisco’s Restaurant Group were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in DFRG. Janus Henderson Group PLC increased its stake in shares of Del Frisco’s Restaurant Group by 95.2% during the third quarter. Janus Henderson Group PLC now owns 1,645,901 shares of the restaurant operator’s stock worth $23,948,000 after purchasing an additional 802,824 shares in the last quarter. LSV Asset Management increased its stake in shares of Del Frisco’s Restaurant Group by 115.0% during the fourth quarter. LSV Asset Management now owns 903,201 shares of the restaurant operator’s stock worth $13,773,000 after purchasing an additional 483,078 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Del Frisco’s Restaurant Group by 10.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,744,814 shares of the restaurant operator’s stock worth $25,387,000 after purchasing an additional 159,038 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Del Frisco’s Restaurant Group during the fourth quarter worth about $2,093,000. Finally, Foundry Partners LLC increased its stake in shares of Del Frisco’s Restaurant Group by 35.5% during the fourth quarter. Foundry Partners LLC now owns 304,935 shares of the restaurant operator’s stock worth $4,650,000 after purchasing an additional 79,950 shares in the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

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Shares of NASDAQ DFRG opened at $15.85 on Friday. Del Frisco’s Restaurant Group has a 12-month low of $11.70 and a 12-month high of $18.85. The stock has a market cap of $319.38, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.71 and a quick ratio of 0.37.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its quarterly earnings data on Thursday, March 8th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Del Frisco’s Restaurant Group had a negative net margin of 3.17% and a positive return on equity of 7.21%. The business had revenue of $121.89 million for the quarter, compared to analysts’ expectations of $123.12 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. equities analysts forecast that Del Frisco’s Restaurant Group will post 0.68 earnings per share for the current year.

Del Frisco’s Restaurant Group declared that its board has authorized a stock repurchase plan on Thursday, March 8th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

DFRG has been the subject of several research reports. BidaskClub cut shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Bank of America raised shares of Del Frisco’s Restaurant Group to a “buy” rating in a research note on Friday, March 2nd. Zacks Investment Research cut shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Deutsche Bank raised shares of Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $17.50 price objective (down previously from $20.00) on shares of Del Frisco’s Restaurant Group in a research note on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Del Frisco’s Restaurant Group currently has a consensus rating of “Hold” and a consensus price target of $17.50.

In other Del Frisco’s Restaurant Group news, CEO Norman J. Abdallah acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was bought at an average price of $16.13 per share, with a total value of $241,950.00. Following the purchase, the chief executive officer now owns 67,712 shares in the company, valued at $1,092,194.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

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Del Frisco’s Restaurant Group Profile

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood.

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Institutional Ownership by Quarter for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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