Goldman Sachs Group Inc. purchased a new stake in Kona Grill, Inc. (NASDAQ:KONA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,991 shares of the restaurant operator’s stock, valued at approximately $159,000. Goldman Sachs Group Inc. owned approximately 0.43% of Kona Grill at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock valued at $2,703,000 after buying an additional 11,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kona Grill by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 357,547 shares of the restaurant operator’s stock worth $1,323,000 after purchasing an additional 33,717 shares in the last quarter. KCG Holdings Inc. acquired a new stake in shares of Kona Grill during the first quarter worth about $200,000. Finally, LMR Partners LLP acquired a new stake in shares of Kona Grill during the second quarter worth about $109,000. Institutional investors own 46.29% of the company’s stock.
A number of research firms have recently commented on KONA. Lake Street Capital cut their target price on Kona Grill from $5.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, November 10th. Zacks Investment Research upgraded Kona Grill from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine cut Kona Grill from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Telsey Advisory Group cut their target price on Kona Grill from $8.00 to $4.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Kona Grill presently has a consensus rating of “Hold” and an average target price of $6.17.
Kona Grill (NASDAQ:KONA) last posted its earnings results on Thursday, November 9th. The restaurant operator reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.11). The firm had revenue of $44.40 million for the quarter, compared to analyst estimates of $46.32 million. Kona Grill had a negative return on equity of 55.38% and a negative net margin of 15.32%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) EPS.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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