Diversified Restaurant Holdings, Inc (NASDAQ:SAUC) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 400,500 shares, a growth of 7.5% from the January 15th total of 372,500 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 355,200 shares, the short-interest ratio is presently 1.1 days.
Separately, ValuEngine lowered Diversified Restaurant from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th.
A number of institutional investors have recently modified their holdings of SAUC. Vanguard Group Inc. increased its position in Diversified Restaurant by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 374,625 shares of the restaurant operator’s stock valued at $277,000 after buying an additional 34,900 shares in the last quarter. Russell Investments Group Ltd. increased its position in Diversified Restaurant by 9.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,194,322 shares of the restaurant operator’s stock valued at $702,000 after buying an additional 102,346 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Diversified Restaurant by 22.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 381,328 shares of the restaurant operator’s stock valued at $224,000 after buying an additional 70,000 shares in the last quarter. Boston Partners increased its position in Diversified Restaurant by 17.8% in the 3rd quarter. Boston Partners now owns 678,173 shares of the restaurant operator’s stock valued at $398,000 after buying an additional 102,546 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Diversified Restaurant in the 4th quarter valued at about $283,000. 16.07% of the stock is owned by institutional investors and hedge funds.
Diversified Restaurant stock remained flat at $$1.04 during midday trading on Friday. The company had a trading volume of 521 shares, compared to its average volume of 82,763. Diversified Restaurant has a twelve month low of $0.37 and a twelve month high of $1.22. The company has a market cap of $34.99 million, a P/E ratio of -7.43 and a beta of 1.60. The business has a 50 day moving average price of $1.04 and a two-hundred day moving average price of $0.79.
Diversified Restaurant (NASDAQ:SAUC) last issued its earnings results on Wednesday, November 13th. The restaurant operator reported ($0.06) EPS for the quarter. The company had revenue of $38.23 million during the quarter.
About Diversified Restaurant
Diversified Restaurant Holdings, Inc, a restaurant company, operates Buffalo Wild Wings franchised restaurants in the United States. The company primarily offers fresh bone-in chicken wings, frozen boneless chicken, and potatoes. As of March 8, 2018, it operated 65 franchised restaurants in Florida, Illinois, Indiana, Michigan, and Missouri.
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