Diversified Restaurant Holdings, Inc. (NASDAQ:SAUC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

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 2.58 on Tuesday. Diversified Restaurant Holdings has a 1-year low of $0.70 and a 1-year high of $4.12. The company’s market capitalization is $68.81 million. The firm has a 50-day moving average price of $3.12 and a 200-day moving average price of $2.22.

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An institutional investor recently raised its position in Diversified Restaurant Holdings stock. Goldman Sachs Group Inc. increased its position in shares of Diversified Restaurant Holdings, Inc. (NASDAQ:SAUC) by 140.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 50,790 shares of the restaurant operator’s stock after buying an additional 29,704 shares during the period. Goldman Sachs Group Inc. owned approximately 0.19% of Diversified Restaurant Holdings worth $117,000 as of its most recent SEC filing. 11.47% of the stock is currently owned by hedge funds and other 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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