Nathan’s Famous (NASDAQ:NATH) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Nathan’s Famous, Inc. (NASDAQ:NATH) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $98.39 and traded as high as $101.20. Nathan’s Famous shares last traded at $100.90, with a volume of 10,581 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Nathan’s Famous from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Nathan’s Famous currently has an average rating of “Buy”.

Nathan’s Famous Stock Down 0.3%

The stock’s fifty day moving average price is $100.97 and its two-hundred day moving average price is $98.39. The company has a market capitalization of $412.68 million, a PE ratio of 19.40 and a beta of 0.29.

Institutional Trading of Nathan’s Famous

A number of institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new stake in shares of Nathan’s Famous during the first quarter worth about $745,000. Lazard Asset Management LLC boosted its holdings in shares of Nathan’s Famous by 559.6% during the first quarter. Lazard Asset Management LLC now owns 17,308 shares of the restaurant operator’s stock worth $1,743,000 after purchasing an additional 14,684 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Nathan’s Famous during the first quarter worth about $3,022,000. Renaissance Technologies LLC boosted its holdings in shares of Nathan’s Famous by 8.7% during the first quarter. Renaissance Technologies LLC now owns 154,356 shares of the restaurant operator’s stock worth $15,548,000 after purchasing an additional 12,300 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Nathan’s Famous by 9.2% during the first quarter. Gabelli Funds LLC now owns 187,000 shares of the restaurant operator’s stock worth $18,837,000 after purchasing an additional 15,800 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Nathan’s Famous Company Profile

Nathan’s Famous Inc is a quick-service restaurant company known for its signature all-beef hot dogs and classic American fast-food offerings. The company operates and franchises a network of dining outlets under the Nathan’s Famous brand, serving items such as hamburgers, chicken sandwiches, french fries and specialty sides. In addition to its restaurant business, Nathan’s Famous markets frozen and refrigerated products to retail and foodservice customers across North America.

The company traces its origins to 1916, when founder Nathan Handwerker opened a modest walk-up stand on Coney Island in Brooklyn, New York.