Nathan’s Famous (NASDAQ:NATH) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Nathan’s Famous, Inc. (NASDAQ:NATH)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.22 and traded as high as $87.00. Nathan’s Famous shares last traded at $86.06, with a volume of 6,606 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Nathan’s Famous from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Nathan’s Famous Stock Up 2.2 %

The stock’s 50-day simple moving average is $80.48 and its 200 day simple moving average is $73.22. The firm has a market cap of $351.56 million, a P/E ratio of 17.89 and a beta of 0.22.

Nathan’s Famous (NASDAQ:NATH) last announced its earnings results on Thursday, August 8th. The restaurant operator reported $2.27 EPS for the quarter. Nathan’s Famous had a negative return on equity of 66.80% and a net margin of 15.21%. The company had revenue of $44.77 million for the quarter.

Nathan’s Famous Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were paid a $0.50 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Nathan’s Famous’s dividend payout ratio is currently 41.58%.

Hedge Funds Weigh In On Nathan’s Famous

Institutional investors have recently made changes to their positions in the stock. Amica Mutual Insurance Co. acquired a new position in shares of Nathan’s Famous during the second quarter worth approximately $407,000. BNP Paribas Financial Markets increased its stake in Nathan’s Famous by 5.3% during the 1st quarter. BNP Paribas Financial Markets now owns 4,546 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 230 shares in the last quarter. AE Wealth Management LLC acquired a new position in Nathan’s Famous during the second quarter worth $813,000. Vanguard Group Inc. lifted its stake in shares of Nathan’s Famous by 1.0% in the first quarter. Vanguard Group Inc. now owns 118,185 shares of the restaurant operator’s stock valued at $8,367,000 after buying an additional 1,128 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nathan’s Famous by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 32,290 shares of the restaurant operator’s stock valued at $2,189,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

About Nathan’s Famous

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.