First Eagle Investment Management LLC Sells 580,650 Shares of The ONE Group Hospitality, Inc. (NASDAQ:STKS)

First Eagle Investment Management LLC cut its holdings in The ONE Group Hospitality, Inc. (NASDAQ:STKS) by 59.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 396,395 shares of the restaurant operator’s stock after selling 580,650 shares during the period. First Eagle Investment Management LLC owned approximately 1.26% of ONE Group Hospitality worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Legato Capital Management LLC bought a new stake in ONE Group Hospitality in the 2nd quarter valued at about $45,000. Panagora Asset Management Inc. increased its position in ONE Group Hospitality by 79.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 61,777 shares of the restaurant operator’s stock valued at $263,000 after buying an additional 27,354 shares in the last quarter. GSA Capital Partners LLP increased its position in ONE Group Hospitality by 124.8% in the 1st quarter. GSA Capital Partners LLP now owns 104,257 shares of the restaurant operator’s stock valued at $581,000 after buying an additional 57,878 shares in the last quarter. American Century Companies Inc. increased its position in ONE Group Hospitality by 60.0% in the 2nd quarter. American Century Companies Inc. now owns 307,841 shares of the restaurant operator’s stock valued at $1,308,000 after buying an additional 115,394 shares in the last quarter. Finally, CastleKnight Management LP increased its position in ONE Group Hospitality by 0.7% in the 4th quarter. CastleKnight Management LP now owns 801,485 shares of the restaurant operator’s stock valued at $4,905,000 after buying an additional 5,500 shares in the last quarter. 29.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STKS has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $9.00 target price on shares of ONE Group Hospitality in a research report on Wednesday, August 7th. StockNews.com lowered ONE Group Hospitality from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

ONE Group Hospitality Stock Performance

Shares of STKS opened at $3.57 on Friday. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.55 and a current ratio of 0.63. The stock has a 50 day moving average price of $4.03 and a two-hundred day moving average price of $4.58. The firm has a market capitalization of $112.42 million, a P/E ratio of 23.73 and a beta of 2.40. The ONE Group Hospitality, Inc. has a 52 week low of $3.13 and a 52 week high of $6.45.

ONE Group Hospitality (NASDAQ:STKS) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $172.49 million during the quarter, compared to analyst estimates of $178.22 million. ONE Group Hospitality had a positive return on equity of 14.71% and a negative net margin of 1.76%. During the same period in the previous year, the company posted $0.06 EPS. Equities analysts forecast that The ONE Group Hospitality, Inc. will post 0.5 earnings per share for the current fiscal year.

About ONE Group Hospitality

The ONE Group Hospitality, Inc, a restaurant company, develops, owns, operates, manages, and licenses restaurants and lounges worldwide. It operates through STK, Kona Grill, and ONE Hospitality segments. The company also provides turn-key food and beverage services for hospitality venues, including hotels, casinos, and other locations.