Del Frisco’s Restaurant Group (DFRG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in Del Frisco’s Restaurant Group (NASDAQ:DFRG) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,018 shares of the restaurant operator’s stock after selling 4,239 shares during the period. Rhumbline Advisers’ holdings in Del Frisco’s Restaurant Group were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Del Frisco’s Restaurant Group by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 79,916 shares of the restaurant operator’s stock valued at $1,163,000 after purchasing an additional 4,021 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Del Frisco’s Restaurant Group by 6.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 165,249 shares of the restaurant operator’s stock worth $2,405,000 after acquiring an additional 9,445 shares in the last quarter. Algert Global LLC lifted its position in Del Frisco’s Restaurant Group by 16.1% during the 3rd quarter. Algert Global LLC now owns 88,820 shares of the restaurant operator’s stock worth $1,292,000 after acquiring an additional 12,290 shares in the last quarter. Wells Fargo & Company MN lifted its position in Del Frisco’s Restaurant Group by 16.8% during the 4th quarter. Wells Fargo & Company MN now owns 101,798 shares of the restaurant operator’s stock worth $1,552,000 after acquiring an additional 14,627 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in Del Frisco’s Restaurant Group by 12.9% during the 4th quarter. Hodges Capital Management Inc. now owns 175,000 shares of the restaurant operator’s stock worth $2,669,000 after acquiring an additional 20,000 shares in the last quarter. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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In other Del Frisco’s Restaurant Group news, CEO Norman J. Abdallah bought 15,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were bought at an average cost of $16.13 per share, with a total value of $241,950.00. Following the transaction, the chief executive officer now directly owns 67,712 shares in the company, valued at approximately $1,092,194.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Several equities analysts recently commented on DFRG shares. BidaskClub raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Zacks Investment Research raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, January 12th. Bank of America raised Del Frisco’s Restaurant Group to a “buy” rating in a research report on Friday, March 2nd. Deutsche Bank raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, Canaccord Genuity reissued a “hold” rating and set a $16.00 price target on shares of Del Frisco’s Restaurant Group in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Del Frisco’s Restaurant Group currently has a consensus rating of “Hold” and an average price target of $17.50.

Del Frisco’s Restaurant Group stock opened at $16.15 on Monday. The company has a market cap of $328.53, a P/E ratio of 22.75, a P/E/G ratio of 2.16 and a beta of 1.01. The company has a current ratio of 0.71, a quick ratio of 0.37 and a debt-to-equity ratio of 0.13. Del Frisco’s Restaurant Group has a one year low of $11.70 and a one year high of $18.85.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its earnings results on Thursday, March 8th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). Del Frisco’s Restaurant Group had a negative net margin of 3.17% and a positive return on equity of 7.21%. The business had revenue of $121.89 million during the quarter, compared to analyst estimates of $123.12 million. During the same period in the previous year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. sell-side analysts expect that Del Frisco’s Restaurant Group will post 0.68 EPS for the current year.

Del Frisco’s Restaurant Group declared that its Board of Directors has initiated a share buyback plan on Thursday, March 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Del Frisco’s Restaurant Group Profile

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood.

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Institutional Ownership by Quarter for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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