Fred Alger Management LLC Lowers Stock Position in Kura Sushi USA, Inc. $KRUS

Fred Alger Management LLC lessened its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 34.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,268 shares of the company’s stock after selling 125,157 shares during the period. Fred Alger Management LLC owned approximately 1.96% of Kura Sushi USA worth $14,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in KRUS. Raymond James Financial Inc. bought a new stake in shares of Kura Sushi USA during the 2nd quarter worth $29,000. Tower Research Capital LLC TRC increased its stake in Kura Sushi USA by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 953 shares of the company’s stock valued at $82,000 after acquiring an additional 284 shares during the last quarter. BNP Paribas Financial Markets raised its position in Kura Sushi USA by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock valued at $79,000 after purchasing an additional 646 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Kura Sushi USA during the second quarter valued at about $203,000. Finally, Creative Planning bought a new stake in Kura Sushi USA during the second quarter worth about $243,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Wall Street Analyst Weigh In

KRUS has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kura Sushi USA in a research report on Monday, December 29th. Wall Street Zen lowered Kura Sushi USA from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 10th. DA Davidson began coverage on shares of Kura Sushi USA in a research report on Friday, March 6th. They set a “buy” rating and a $90.00 price target on the stock. Citigroup reissued a “neutral” rating on shares of Kura Sushi USA in a research note on Thursday, January 8th. Finally, Barclays cut their price objective on shares of Kura Sushi USA from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kura Sushi USA currently has a consensus rating of “Hold” and a consensus price target of $78.00.

Kura Sushi USA Trading Up 0.5%

Shares of NASDAQ KRUS opened at $57.89 on Tuesday. The firm has a fifty day simple moving average of $68.69 and a two-hundred day simple moving average of $62.90. Kura Sushi USA, Inc. has a 12 month low of $40.03 and a 12 month high of $95.98. The firm has a market capitalization of $701.05 million, a PE ratio of -175.42 and a beta of 1.67.

Kura Sushi USA (NASDAQ:KRUS) last announced its earnings results on Wednesday, January 7th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). Kura Sushi USA had a negative net margin of 1.37% and a negative return on equity of 0.63%. The company had revenue of $73.46 million for the quarter, compared to the consensus estimate of $72.98 million. During the same period in the previous year, the firm posted ($0.08) EPS. On average, sell-side analysts predict that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Kura Sushi USA news, insider Hajime Uba sold 9,874 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $72.93, for a total value of $720,110.82. Following the completion of the sale, the insider directly owned 6,026 shares in the company, valued at $439,476.18. This trade represents a 62.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.28% of the stock is owned by company insiders.

About Kura Sushi USA

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.