Granite Investment Partners LLC boosted its stake in shares of Kona Grill Inc. (NASDAQ:KONA) by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 198,514 shares of the company’s stock after buying an additional 11,823 shares during the period. Granite Investment Partners LLC owned 1.89% of Kona Grill worth $2,496,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Kona Grill by 0.5% in the second quarter. Royal Bank of Canada now owns 1,113,222 shares of the company’s stock valued at $11,934,000 after buying an additional 5,964 shares during the period. Wellington Management Group LLP boosted its stake in shares of Kona Grill by 39.5% in the first quarter. Wellington Management Group LLP now owns 997,602 shares of the company’s stock valued at $12,919,000 after buying an additional 282,435 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Kona Grill by 13.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 410,040 shares of the company’s stock valued at $4,396,000 after buying an additional 50,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kona Grill by 5.6% in the second quarter. Vanguard Group Inc. now owns 318,414 shares of the company’s stock valued at $3,413,000 after buying an additional 16,822 shares during the period. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Kona Grill during the second quarter valued at $3,081,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Kona Grill (NASDAQ:KONA)

Kona Grill Inc. (NASDAQ:KONA) remained flat at $12.65 during mid-day trading on Monday. The company had a trading volume of 24,679 shares. Kona Grill Inc. has a 52 week low of $9.75 and a 52 week high of $17.27. The stock has a 50 day moving average of $11.26 and a 200 day moving average of $12.04. The firm’s market capitalization is $133.36 million.

Kona Grill (NASDAQ:KONA) last issued its earnings results on Thursday, October 27th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.09. Kona Grill had a negative return on equity of 12.30% and a negative net margin of 4.30%. The firm had revenue of $43.40 million for the quarter, compared to analysts’ expectations of $45.31 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that Kona Grill Inc. will post ($0.70) earnings per share for the current year.

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Several analysts recently weighed in on KONA shares. Wedbush reduced their target price on shares of Kona Grill from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Zacks Investment Research cut shares of Kona Grill from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Kona Grill currently has an average rating of “Buy” and an average price target of $16.00.

Kona Grill Company Profile

Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.

5 Day Chart for NASDAQ:KONA

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