Heartland Advisors Inc. cut its stake in Bravo Brio Restaurant Group Inc. (NASDAQ:BBRG) by 8.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 886,854 shares of the company’s stock after selling 79,271 shares during the period. Heartland Advisors Inc. owned 6.08% of Bravo Brio Restaurant Group worth $4,239,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brandes Investment Partners LP purchased a new stake in Bravo Brio Restaurant Group during the second quarter worth about $104,000. Bank of Montreal Can purchased a new stake in Bravo Brio Restaurant Group during the second quarter worth about $144,000. Acrospire Investment Management LLC boosted its stake in Bravo Brio Restaurant Group by 68.6% in the second quarter. Acrospire Investment Management LLC now owns 20,481 shares of the company’s stock worth $168,000 after buying an additional 8,331 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Bravo Brio Restaurant Group during the second quarter worth about $198,000. Finally, FMR LLC purchased a new stake in Bravo Brio Restaurant Group during the second quarter worth about $204,000. 59.40% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Bravo Brio Restaurant Group (NASDAQ:BBRG)

Bravo Brio Restaurant Group Inc. (NASDAQ:BBRG) traded down 3.49% during trading on Tuesday, reaching $4.15. The company’s stock had a trading volume of 88,429 shares. Bravo Brio Restaurant Group Inc. has a 52 week low of $3.40 and a 52 week high of $11.01. The company’s 50 day moving average price is $4.32 and its 200 day moving average price is $5.93. The company’s market cap is $61.11 million.

Bravo Brio Restaurant Group (NASDAQ:BBRG) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.02. The business had revenue of $94.59 million for the quarter, compared to the consensus estimate of $92.33 million. Bravo Brio Restaurant Group had a negative net margin of 0.98% and a positive return on equity of 8.07%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts anticipate that Bravo Brio Restaurant Group Inc. will post $0.14 earnings per share for the current fiscal year.

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BBRG has been the subject of a number of research reports. TheStreet cut Bravo Brio Restaurant Group from a “hold” rating to a “sell” rating in a research report on Monday, August 22nd. Zacks Investment Research raised Bravo Brio Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Jefferies Group reissued a “hold” rating on shares of Bravo Brio Restaurant Group in a research report on Friday, November 4th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $7.00 price objective (down previously from $14.00) on shares of Bravo Brio Restaurant Group in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.67.

In other news, major shareholder Tac Capital Llc acquired 300,052 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was acquired at an average price of $4.96 per share, for a total transaction of $1,488,257.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 7.50% of the stock is currently owned by corporate insiders.

About Bravo Brio Restaurant Group

Bravo Brio Restaurant Group, Inc is the owner and operator of approximately two Italian restaurant brands, including BRAVO! Cucina Italiana (BRAVO!) and BRIO Tuscan Grille (BRIO). The Company operates approximately 120 restaurants in over 30 states. Additionally, approximately one BRIO restaurant is operated under a franchise agreement.

5 Day Chart for NASDAQ:BBRG

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