Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Down 62.5% in March

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 11,400 shares, a decrease of 62.5% from the February 29th total of 30,400 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 35,500 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com began coverage on Rave Restaurant Group in a research note on Monday. They set a “buy” rating for the company. TheStreet downgraded shares of Rave Restaurant Group from a “b” rating to a “c+” rating in a research note on Wednesday, December 20th.

Insider Activity

In other news, insider Value Llp Ima acquired 51,921 shares of the business’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $1.96 per share, for a total transaction of $101,765.16. Following the acquisition, the insider now directly owns 1,011,807 shares of the company’s stock, valued at approximately $1,983,141.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders bought 103,762 shares of company stock worth $203,066. 27.80% of the stock is currently owned by company insiders.

Institutional Trading of Rave Restaurant Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. James Investment Research Inc. acquired a new position in shares of Rave Restaurant Group in the 3rd quarter valued at about $36,000. Virtu Financial LLC boosted its stake in Rave Restaurant Group by 166.2% in the first quarter. Virtu Financial LLC now owns 67,144 shares of the restaurant operator’s stock valued at $72,000 after acquiring an additional 41,918 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Rave Restaurant Group during the fourth quarter valued at approximately $85,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Rave Restaurant Group during the 3rd quarter worth approximately $107,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Rave Restaurant Group by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 137,411 shares of the restaurant operator’s stock worth $217,000 after purchasing an additional 6,896 shares during the last quarter. 15.12% of the stock is owned by institutional investors and hedge funds.

Rave Restaurant Group Trading Down 1.8 %

Rave Restaurant Group stock traded down $0.04 during midday trading on Thursday, hitting $2.19. The stock had a trading volume of 33,771 shares, compared to its average volume of 37,688. The business has a fifty day moving average price of $1.91 and a 200 day moving average price of $2.10. Rave Restaurant Group has a 12 month low of $1.31 and a 12 month high of $2.64. The stock has a market cap of $31.95 million, a P/E ratio of 17.16 and a beta of 0.32.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share for the quarter. The business had revenue of $2.79 million during the quarter. Rave Restaurant Group had a return on equity of 18.06% and a net margin of 15.94%.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.