GEN Restaurant Group, Inc. (NASDAQ:GENK) Sees Large Drop in Short Interest

GEN Restaurant Group, Inc. (NASDAQ:GENK) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 123,600 shares, a decrease of 11.6% from the November 15th total of 139,800 shares. Based on an average trading volume of 42,100 shares, the short-interest ratio is presently 2.9 days. Currently, 2.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of GEN Restaurant Group in a research note on Monday, November 18th.

GEN Restaurant Group Stock Up 0.4 %

GENK stock traded up $0.03 during trading on Tuesday, reaching $8.06. The stock had a trading volume of 51,933 shares, compared to its average volume of 59,790. GEN Restaurant Group has a one year low of $5.61 and a one year high of $14.46. The company’s 50 day moving average is $8.50 and its two-hundred day moving average is $8.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $264.37 million, a price-to-earnings ratio of 47.24 and a beta of 1.93.

GEN Restaurant Group (NASDAQ:GENK) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $49.11 million for the quarter, compared to the consensus estimate of $49.90 million. GEN Restaurant Group had a net margin of 0.39% and a return on equity of 1.83%. During the same period in the previous year, the firm earned $0.08 EPS. Equities research analysts forecast that GEN Restaurant Group will post 0.01 EPS for the current year.

Insider Transactions at GEN Restaurant Group

In related news, CEO David Wook Jin Kim acquired 3,954 shares of GEN Restaurant Group stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $7.90 per share, with a total value of $31,236.60. Following the completion of the transaction, the chief executive officer now directly owns 135,093 shares in the company, valued at $1,067,234.70. This trade represents a 3.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 61.13% of the stock is owned by insiders.

Hedge Funds Weigh In On GEN Restaurant Group

Several large investors have recently modified their holdings of GENK. Wasatch Advisors LP raised its position in shares of GEN Restaurant Group by 72.7% during the 3rd quarter. Wasatch Advisors LP now owns 838,451 shares of the company’s stock valued at $7,077,000 after buying an additional 352,922 shares in the last quarter. Portolan Capital Management LLC increased its position in shares of GEN Restaurant Group by 1.8% during the third quarter. Portolan Capital Management LLC now owns 372,759 shares of the company’s stock valued at $3,146,000 after buying an additional 6,641 shares during the period. Skylands Capital LLC grew its holdings in shares of GEN Restaurant Group by 19.6% during the 2nd quarter. Skylands Capital LLC now owns 176,360 shares of the company’s stock worth $1,598,000 after acquiring an additional 28,960 shares during the period. Bard Associates Inc. boosted its holdings in shares of GEN Restaurant Group by 1.7% during the 3rd quarter. Bard Associates Inc. now owns 175,676 shares of the company’s stock valued at $1,483,000 after buying an additional 2,956 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in GEN Restaurant Group by 487.8% during the 1st quarter. Vanguard Group Inc. now owns 164,574 shares of the company’s stock valued at $1,922,000 after acquiring an additional 136,578 shares during the period. Hedge funds and other institutional investors own 10.22% of the company’s stock.

About GEN Restaurant Group

GEN Restaurant Group, Inc operates restaurants in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. It offers meats, poultry, and seafood. The company was founded in 2011 and is based in Cerritos, California.