StockNews.com Initiates Coverage on Rave Restaurant Group (NASDAQ:RAVE)

StockNews.com began coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Rave Restaurant Group Stock Up 4.9 %

Shares of NASDAQ:RAVE opened at $2.98 on Wednesday. The firm has a market capitalization of $43.84 million, a PE ratio of 16.56 and a beta of 0.43. Rave Restaurant Group has a twelve month low of $1.69 and a twelve month high of $3.36. The company has a 50-day moving average price of $2.63 and a two-hundred day moving average price of $2.56.

Rave Restaurant Group (NASDAQ:RAVE) last announced its quarterly earnings data on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share for the quarter. Rave Restaurant Group had a net margin of 21.80% and a return on equity of 20.68%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Rave Restaurant Group by 28.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after purchasing an additional 6,682 shares during the period. Two Sigma Securities LLC purchased a new position in Rave Restaurant Group during the 4th quarter valued at $29,000. Finally, Geode Capital Management LLC increased its position in Rave Restaurant Group by 36.9% during the 3rd quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock valued at $264,000 after purchasing an additional 34,977 shares during the period. 15.12% of the stock is owned by hedge funds and other institutional investors.

About Rave Restaurant Group

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.