Diversified Restaurant Holdings, Inc. (NASDAQ:SAUC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, July 18th.
According to Zacks, “Diversified Restaurant Holdings, Inc. is engaged in restaurant business. It is the creator, developer, operator and franchisor of ultra-casual restaurants and bars. The company operates two complementary concepts: Bagger Dave’s Legendary Burger Tavern(R) and Buffalo Wild Wings(R). It operates primarily in Michigan, Florida, Illinois, Indiana and Missouri. Diversified Restaurant Holdings, Inc. is based in Southfield, Michigan. “
Shares of Diversified Restaurant Holdings (NASDAQ:SAUC) opened at 2.08 on Tuesday. The company has a 50 day moving average price of $2.61 and a 200-day moving average price of $2.39. Diversified Restaurant Holdings has a one year low of $0.70 and a one year high of $4.12. The stock’s market cap is $55.47 million.
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Several institutional investors have recently made changes to their positions in SAUC. Goldman Sachs Group Inc. boosted its position in shares of Diversified Restaurant Holdings by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 50,790 shares of the restaurant operator’s stock valued at $117,000 after buying an additional 29,704 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of Diversified Restaurant Holdings by 3.8% in the second quarter. Spark Investment Management LLC now owns 74,200 shares of the restaurant operator’s stock valued at $192,000 after buying an additional 2,700 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Diversified Restaurant Holdings by 68.4% in the first quarter. Renaissance Technologies LLC now owns 228,240 shares of the restaurant operator’s stock valued at $525,000 after buying an additional 92,740 shares in the last quarter. 9.38% of the stock is currently owned by institutional investors.
Diversified Restaurant Holdings Company Profile
Diversified Restaurant Holdings, Inc (DRH) is a restaurant company. The Company is a franchisee of Buffalo Wild Wings (BWW).As of September 25, 2016, the Company operated 64 BWW restaurants, which are located in Michigan, Florida, Missouri, Illinois and Indiana. The BWW restaurants feature a range of menu items with a multimedia social environment, a bar and an open layout designed to create a dining experience for sports fans and families.
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