Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 22,700 shares, a decline of 39.9% from the March 31st total of 37,800 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 34,900 shares, the days-to-cover ratio is presently 0.7 days.

Insider Transactions at Rave Restaurant Group

In related news, insider Value Llp Ima acquired 51,921 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $1.96 per share, for a total transaction of $101,765.16. Following the acquisition, the insider now owns 1,011,807 shares in the company, valued at approximately $1,983,141.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 27.80% of the company’s stock.

Hedge Funds Weigh In On Rave Restaurant Group

An institutional investor recently raised its position in Rave Restaurant Group stock. Corsair Capital Management L.P. raised its position in Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,573 shares of the restaurant operator’s stock after buying an additional 8,258 shares during the period. Corsair Capital Management L.P. owned 1.18% of Rave Restaurant Group worth $385,000 as of its most recent SEC filing. 15.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Rave Restaurant Group in a research note on Friday. They issued a “buy” rating on the stock.

Rave Restaurant Group Stock Performance

NASDAQ RAVE remained flat at $2.10 on Friday. 10,266 shares of the company were exchanged, compared to its average volume of 21,990. The stock has a market capitalization of $30.63 million, a price-to-earnings ratio of 16.15 and a beta of 0.33. The company’s 50 day moving average price is $1.99 and its 200-day moving average price is $2.11. Rave Restaurant Group has a twelve month low of $1.50 and a twelve month high of $2.64.

Rave Restaurant Group (NASDAQ:RAVE) last posted its earnings results on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share for the quarter. The business had revenue of $2.79 million for the quarter. Rave Restaurant Group had a net margin of 15.94% and a return on equity of 18.06%.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.