Rave Restaurant Group, Inc. (NASDAQ:RAVE – Get Free Report) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 71,500 shares, an increase of 34.7% from the February 13th total of 53,100 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 31,500 shares, the short-interest ratio is presently 2.3 days.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on Rave Restaurant Group in a research note on Wednesday, March 12th. They issued a “buy” rating for the company.
Check Out Our Latest Report on RAVE
Rave Restaurant Group Stock Performance
Rave Restaurant Group (NASDAQ:RAVE – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share for the quarter. Rave Restaurant Group had a return on equity of 20.68% and a net margin of 21.80%.
Hedge Funds Weigh In On Rave Restaurant Group
A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Rave Restaurant Group by 36.9% during the third quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock valued at $264,000 after acquiring an additional 34,977 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Rave Restaurant Group by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after purchasing an additional 6,682 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Rave Restaurant Group in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 15.12% of the company’s stock.
About Rave Restaurant Group
Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.
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