Short Interest in Nathan’s Famous, Inc. (NASDAQ:NATH) Decreases By 14.6%

Nathan’s Famous, Inc. (NASDAQ:NATH) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 21,100 shares, a decline of 14.6% from the February 28th total of 24,700 shares. Based on an average daily volume of 12,300 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised Nathan’s Famous from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th.

Hedge Funds Weigh In On Nathan’s Famous

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Nathan’s Famous by 1.6% during the fourth quarter. Northern Trust Corp now owns 27,011 shares of the restaurant operator’s stock worth $2,123,000 after acquiring an additional 426 shares during the period. Barclays PLC increased its position in Nathan’s Famous by 11.5% during the 4th quarter. Barclays PLC now owns 4,555 shares of the restaurant operator’s stock valued at $359,000 after purchasing an additional 471 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Nathan’s Famous by 45.1% in the 4th quarter. Wells Fargo & Company MN now owns 2,056 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 639 shares during the period. Bank of America Corp DE grew its holdings in Nathan’s Famous by 30.8% in the fourth quarter. Bank of America Corp DE now owns 2,820 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 664 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Nathan’s Famous by 27.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,697 shares of the restaurant operator’s stock valued at $291,000 after acquiring an additional 803 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Nathan’s Famous Stock Performance

NATH stock traded up $0.24 during midday trading on Wednesday, hitting $96.21. 2,572 shares of the company’s stock were exchanged, compared to its average volume of 9,615. The company has a market cap of $393.40 million, a PE ratio of 16.59 and a beta of 0.15. The stock’s fifty day moving average price is $92.54 and its 200-day moving average price is $86.33. Nathan’s Famous has a one year low of $64.02 and a one year high of $104.96.

Nathan’s Famous (NASDAQ:NATH) last issued its quarterly earnings results on Thursday, February 6th. The restaurant operator reported $1.10 earnings per share for the quarter. Nathan’s Famous had a net margin of 16.19% and a negative return on equity of 96.05%.

Nathan’s Famous Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, February 18th. Nathan’s Famous’s payout ratio is currently 34.48%.

Nathan’s Famous Company Profile

Nathan’s Famous, Inc engages in the operation of franchised fast-food units. It is involved in the licensing, wholesaling, and retailing of products marketed under the Nathan’s Famous brand. The firm operates through the following business segments: Branded Product Program, Product Licensing, Restaurant Operations, and Corporate.