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. “
Diversified Restaurant Holdings (SAUC) traded up 8.25% during trading on Tuesday, reaching $2.23. 142,476 shares of the company were exchanged. The firm’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.41. Diversified Restaurant Holdings has a one year low of $0.70 and a one year high of $4.12. The stock’s market capitalization is $59.48 million.
TRADEMARK VIOLATION NOTICE: This report was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/13/diversified-restaurant-holdings-inc-nasdaqsauc-downgraded-to-hold-at-zacks-investment-research-updated-updated-updated.html.
Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in 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 period. Virtu KCG Holdings LLC increased its stake in Diversified Restaurant Holdings by 55.8% in the second quarter. Virtu KCG Holdings LLC now owns 59,163 shares of the restaurant operator’s stock valued at $154,000 after buying an additional 21,181 shares during the period. Spark Investment Management LLC increased its stake in 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 period. Dimensional Fund Advisors LP acquired a new stake in Diversified Restaurant Holdings during the second quarter valued at approximately $413,000. Finally, Renaissance Technologies LLC increased 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 during the period. 9.36% of the stock is currently owned by institutional investors and hedge funds.
About Diversified Restaurant Holdings
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.
Get a free copy of the Zacks research report on Diversified Restaurant Holdings (SAUC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Diversified Restaurant Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diversified Restaurant Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
