Russell Investments Group Ltd. lowered its position in Kona Grill, Inc. (NASDAQ:KONA) by 48.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,276 shares of the restaurant operator’s stock after selling 22,177 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Kona Grill worth $147,000 at the end of the most recent reporting period.
Separately, Two Sigma Investments LP purchased a new stake in Kona Grill during the fourth quarter worth approximately $293,000. 62.90% of the stock is owned by institutional investors.
Shares of Kona Grill, Inc. (NASDAQ KONA) opened at 2.65 on Friday. Kona Grill, Inc. has a 52-week low of $2.50 and a 52-week high of $14.44. The stock’s market capitalization is $26.76 million. The firm’s 50-day moving average price is $3.90 and its 200-day moving average price is $6.99.
Kona Grill (NASDAQ:KONA) last issued its quarterly earnings results on Monday, May 8th. The restaurant operator reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.11. Kona Grill had a negative net margin of 13.31% and a negative return on equity of 30.92%. The firm had revenue of $45.20 million for the quarter, compared to analyst estimates of $46.96 million. During the same quarter last year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts forecast that Kona Grill, Inc. will post ($0.84) earnings per share for the current fiscal year.
A number of analysts have commented on the company. Raymond James Financial, Inc. downgraded Kona Grill from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Zacks Investment Research upgraded Kona Grill from a “sell” rating to a “hold” rating in a research report on Wednesday. Telsey Advisory Group downgraded Kona Grill from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $13.00 to $8.00 in a research report on Tuesday, May 9th. ValuEngine downgraded Kona Grill from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $11.00 target price (up from $10.00) on shares of Kona Grill in a research report on Tuesday, May 9th. One 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. The stock currently has an average rating of “Hold” and an average target price of $12.00.
In other news, major shareholder Bbs Capital Fund Lp purchased 50,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were bought at an average cost of $4.83 per share, for a total transaction of $241,500.00. Following the transaction, the insider now owns 92,602 shares in the company, valued at $447,267.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have bought 100,500 shares of company stock worth $426,250. 29.20% of the stock is owned by insiders.
Kona Grill Company Profile
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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