Garnet Equity Capital Holdings Inc. Acquires 200,000 Shares of Del Frisco’s Restaurant Group Inc (DFRG)

Garnet Equity Capital Holdings Inc. lifted its holdings in shares of Del Frisco’s Restaurant Group Inc (NASDAQ:DFRG) by 100.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the restaurant operator’s stock after buying an additional 200,000 shares during the period. Del Frisco’s Restaurant Group comprises 2.4% of Garnet Equity Capital Holdings Inc.’s holdings, making the stock its 19th largest position. Garnet Equity Capital Holdings Inc. owned approximately 1.26% of Del Frisco’s Restaurant Group worth $3,320,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Putnam Investments LLC acquired a new position in shares of Del Frisco’s Restaurant Group during the 2nd quarter worth about $1,541,000. Royal Bank of Canada boosted its stake in shares of Del Frisco’s Restaurant Group by 437,625.0% during the 1st quarter. Royal Bank of Canada now owns 385,198 shares of the restaurant operator’s stock worth $5,874,000 after buying an additional 385,110 shares during the last quarter. Mackay Shields LLC boosted its stake in shares of Del Frisco’s Restaurant Group by 464.0% during the 2nd quarter. Mackay Shields LLC now owns 70,500 shares of the restaurant operator’s stock worth $888,000 after buying an additional 58,000 shares during the last quarter. PEAK6 Investments L.P. acquired a new position in shares of Del Frisco’s Restaurant Group during the 2nd quarter worth about $138,000. Finally, Sei Investments Co. boosted its stake in shares of Del Frisco’s Restaurant Group by 1,343.9% during the 2nd quarter. Sei Investments Co. now owns 18,439 shares of the restaurant operator’s stock worth $232,000 after buying an additional 17,162 shares during the last quarter. Institutional investors own 63.35% of the company’s stock.

In other news, CFO Neil H. Thomson bought 6,250 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $50,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Norman J. Abdallah bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average price of $8.00 per share, with a total value of $80,000.00. Following the completion of the purchase, the chief executive officer now directly owns 115,882 shares in the company, valued at approximately $927,056. The disclosure for this purchase can be found here. Insiders purchased a total of 57,175 shares of company stock valued at $465,221 over the last quarter. 3.20% of the stock is currently owned by company insiders.

A number of research firms have recently commented on DFRG. TheStreet downgraded shares of Del Frisco’s Restaurant Group from a “c-” rating to a “d+” rating in a research note on Friday, August 10th. BidaskClub downgraded shares of Del Frisco’s Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Friday, July 6th. Canaccord Genuity reduced their price objective on shares of Del Frisco’s Restaurant Group from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, July 13th. Zacks Investment Research downgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, ValuEngine downgraded shares of Del Frisco’s Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.30.

NASDAQ:DFRG traded down $0.07 during mid-day trading on Friday, hitting $7.87. The stock had a trading volume of 19,168 shares, compared to its average volume of 330,019. Del Frisco’s Restaurant Group Inc has a twelve month low of $7.50 and a twelve month high of $18.85. The company has a market capitalization of $262.55 million, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 2.31 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 0.66.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last issued its earnings results on Friday, July 27th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.11. Del Frisco’s Restaurant Group had a negative net margin of 4.81% and a positive return on equity of 7.14%. The business had revenue of $90.04 million during the quarter, compared to the consensus estimate of $90.69 million. As a group, equities analysts forecast that Del Frisco’s Restaurant Group Inc will post 0.36 earnings per share for the current year.

About Del Frisco’s Restaurant Group

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, Del Frisco's Grille, Barcelona Wine Bar, and bartaco brand names. The company offers steaks, as well as other menu selections, such as chops, fresh seafood, tapas, street food, and wines and cocktails.

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Institutional Ownership by Quarter for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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