Nathan’s Famous (NASDAQ:NATH) Shares Pass Above 200-Day Moving Average of $69.96

Nathan’s Famous, Inc. (NASDAQ:NATH) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $69.96 and traded as high as $77.50. Nathan’s Famous shares last traded at $77.10, with a volume of 3,893 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Nathan’s Famous from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Nathan’s Famous Price Performance

The stock has a fifty day simple moving average of $73.68 and a two-hundred day simple moving average of $70.06. The firm has a market capitalization of $316.42 million, a P/E ratio of 16.10 and a beta of 0.22.

Nathan’s Famous (NASDAQ:NATH) last announced its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $2.27 earnings per share for the quarter. Nathan’s Famous had a net margin of 15.21% and a negative return on equity of 66.80%. The firm had revenue of $44.77 million for the quarter.

Nathan’s Famous Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, August 26th. Nathan’s Famous’s dividend payout ratio is currently 41.58%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NATH. BNP Paribas Financial Markets boosted its position in Nathan’s Famous by 5.3% in the first quarter. BNP Paribas Financial Markets now owns 4,546 shares of the restaurant operator’s stock worth $322,000 after purchasing an additional 230 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Nathan’s Famous by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 32,290 shares of the restaurant operator’s stock valued at $2,189,000 after purchasing an additional 430 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Nathan’s Famous during the 2nd quarter valued at approximately $32,000. Annex Advisory Services LLC raised its holdings in Nathan’s Famous by 7.4% during the 2nd quarter. Annex Advisory Services LLC now owns 12,771 shares of the restaurant operator’s stock valued at $866,000 after acquiring an additional 878 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Nathan’s Famous by 9.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,556 shares of the restaurant operator’s stock valued at $747,000 after purchasing an additional 905 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

About Nathan’s Famous

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.