RAVE Restaurant Group (NASDAQ:RAVE) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of RAVE Restaurant Group (NASDAQ:RAVE – Get Rating) in a report released on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

NASDAQ RAVE opened at $0.98 on Wednesday. The stock has a 50-day simple moving average of $0.96 and a 200 day simple moving average of $1.03. The stock has a market capitalization of $17.72 million, a PE ratio of 8.20 and a beta of 0.72. RAVE Restaurant Group has a twelve month low of $0.82 and a twelve month high of $1.80.

RAVE Restaurant Group (NASDAQ:RAVE – Get Rating) last issued its earnings results on Friday, May 6th. The restaurant operator reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $2.62 million during the quarter. RAVE Restaurant Group had a return on equity of 33.97% and a net margin of 21.09%.

In related news, CFO Clinton Dayne Fendley purchased 28,700 shares of RAVE Restaurant Group stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average cost of $0.88 per share, for a total transaction of $25,256.00. Following the transaction, the chief financial officer now directly owns 84,416 shares of the company’s stock, valued at $74,286.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 145,329 shares of company stock worth $128,182 over the last 90 days. 41.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAVE. Virtu Financial LLC grew its holdings in RAVE Restaurant Group by 166.2% during the first quarter. Virtu Financial LLC now owns 67,144 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 41,918 shares during the period. Lake Street Financial LLC bought a new stake in shares of RAVE Restaurant Group during the fourth quarter worth approximately $28,000. Finally, Two Sigma Securities LLC bought a new stake in shares of RAVE Restaurant Group during the third quarter worth approximately $72,000. 7.33% of the stock is currently owned by hedge funds and other institutional investors.

RAVE Restaurant Group Company Profile (Get Rating)

Rave Restaurant Group, Inc, together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.

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