Del Frisco’s Restaurant Group (NASDAQ:DFRG) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 664,935 shares, a drop of 34.9% from the February 15th total of 1,021,738 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily volume of 208,757 shares, the days-to-cover ratio is presently 3.2 days.
In related news, CEO Norman J. Abdallah acquired 15,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were bought at an average cost of $16.13 per share, with a total value of $241,950.00. Following the completion of the transaction, the chief executive officer now directly owns 67,712 shares of the company’s stock, valued at approximately $1,092,194.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.
A number of large investors have recently bought and sold shares of DFRG. Janus Henderson Group PLC grew its stake in Del Frisco’s Restaurant Group by 95.2% in the third quarter. Janus Henderson Group PLC now owns 1,645,901 shares of the restaurant operator’s stock worth $23,948,000 after purchasing an additional 802,824 shares in the last quarter. LSV Asset Management grew its stake in Del Frisco’s Restaurant Group by 115.0% in the fourth quarter. LSV Asset Management now owns 903,201 shares of the restaurant operator’s stock worth $13,773,000 after purchasing an additional 483,078 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Del Frisco’s Restaurant Group by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,744,814 shares of the restaurant operator’s stock worth $25,387,000 after purchasing an additional 159,038 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in Del Frisco’s Restaurant Group in the fourth quarter worth about $2,093,000. Finally, J. Goldman & Co LP acquired a new position in Del Frisco’s Restaurant Group in the fourth quarter worth about $1,906,000. Institutional investors and hedge funds own 86.58% of the company’s stock.
Several research analysts have commented on DFRG shares. Canaccord Genuity reissued a “hold” rating and issued a $16.00 price objective on shares of Del Frisco’s Restaurant Group in a research report on Friday, March 9th. BidaskClub lowered Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Stephens upgraded Del Frisco’s Restaurant Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $15.10 to $18.00 in a research note on Wednesday, January 10th. Zacks Investment Research downgraded Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, Bank of America upgraded Del Frisco’s Restaurant Group to a “buy” rating in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.50.
Shares of Del Frisco’s Restaurant Group (NASDAQ DFRG) opened at $14.60 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.33 and a current ratio of 0.76. The firm has a market capitalization of $305.56, a PE ratio of 20.28, a PEG ratio of 1.93 and a beta of 0.93. Del Frisco’s Restaurant Group has a 52 week low of $11.70 and a 52 week high of $18.85.
Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its earnings results on Thursday, March 8th. The restaurant operator reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The business had revenue of $121.89 million for the quarter, compared to analyst estimates of $123.12 million. Del Frisco’s Restaurant Group had a negative net margin of 3.17% and a positive return on equity of 6.96%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. sell-side analysts predict that Del Frisco’s Restaurant Group will post 0.68 EPS for the current fiscal year.
Del Frisco’s Restaurant Group declared that its board has approved a share buyback program on Thursday, March 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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About Del Frisco’s Restaurant Group
Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood.
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