Nathan’s Famous (NASDAQ:NATH) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Nathan’s Famous, Inc. (NASDAQ:NATH) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $98.61 and traded as high as $101.11. Nathan’s Famous shares last traded at $101.11, with a volume of 9,244 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Nathan’s Famous from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Nathan’s Famous Price Performance

The firm has a market capitalization of $413.38 million, a P/E ratio of 19.44 and a beta of 0.29. The company’s 50-day simple moving average is $100.92 and its two-hundred day simple moving average is $98.63.

Institutional Trading of Nathan’s Famous

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Nathan’s Famous by 10.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,106 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 103 shares during the period. Cullen Investment Group LTD. raised its position in shares of Nathan’s Famous by 1.2% during the 4th quarter. Cullen Investment Group LTD. now owns 10,531 shares of the restaurant operator’s stock valued at $956,000 after purchasing an additional 130 shares during the period. First Trust Advisors LP raised its position in shares of Nathan’s Famous by 2.5% during the 4th quarter. First Trust Advisors LP now owns 8,276 shares of the restaurant operator’s stock valued at $774,000 after purchasing an additional 200 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Nathan’s Famous by 204.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 387 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 260 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Nathan’s Famous by 15.9% during the 4th quarter. SG Americas Securities LLC now owns 2,214 shares of the restaurant operator’s stock valued at $207,000 after purchasing an additional 304 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Nathan’s Famous Company Profile

Nathan’s Famous Inc is a quick-service restaurant company known for its signature all-beef hot dogs and classic American fast-food offerings. The company operates and franchises a network of dining outlets under the Nathan’s Famous brand, serving items such as hamburgers, chicken sandwiches, french fries and specialty sides. In addition to its restaurant business, Nathan’s Famous markets frozen and refrigerated products to retail and foodservice customers across North America.

The company traces its origins to 1916, when founder Nathan Handwerker opened a modest walk-up stand on Coney Island in Brooklyn, New York.