Nathan’s Famous (NASDAQ:NATH) Shares Cross Below 200-Day Moving Average – What’s Next?

Nathan’s Famous, Inc. (NASDAQ:NATH) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $99.90 and traded as low as $93.80. Nathan’s Famous shares last traded at $94.29, with a volume of 49,468 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NATH shares. Wall Street Zen upgraded shares of Nathan’s Famous to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Nathan’s Famous in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Nathan’s Famous Stock Up 7.7%

The company has a market capitalization of $416.35 million, a PE ratio of 21.02 and a beta of 0.28. The company has a 50-day moving average price of $97.91 and a two-hundred day moving average price of $99.91.

Nathan’s Famous (NASDAQ:NATH) last released its quarterly earnings data on Friday, August 7th. The restaurant operator reported $2.14 earnings per share (EPS) for the quarter. The company had revenue of $54.06 million for the quarter. Nathan’s Famous had a negative return on equity of 187.25% and a net margin of 11.78%.

Institutional Investors Weigh In On Nathan’s Famous

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Nathan’s Famous during the second quarter valued at approximately $28,000. Bank of New York Mellon Corp lifted its stake in Nathan’s Famous by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 28,852 shares of the restaurant operator’s stock worth $2,906,000 after purchasing an additional 476 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Nathan’s Famous in the 2nd quarter worth approximately $153,000. Callan Family Office LLC bought a new position in Nathan’s Famous in the 2nd quarter valued at $216,000. Finally, CenterBook Partners LP grew its position in shares of Nathan’s Famous by 6.8% during the 4th quarter. CenterBook Partners LP now owns 34,685 shares of the restaurant operator’s stock valued at $3,245,000 after purchasing an additional 2,200 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

About Nathan’s Famous

Nathan’s Famous, Inc (NASDAQ:NATH) is a foodservice and consumer packaged foods company best known for its Nathan’s Famous hot dogs. The company operates and franchises restaurants and concession locations that serve hot dogs, hamburgers, fries, chicken products, beverages and other casual dining items under the Nathan’s Famous brand.

Founded by Nathan Handwerker in 1916 with a hot dog stand in Coney Island, Brooklyn, Nathan’s Famous has developed into a nationally recognized food brand.