Rave Restaurant Group (NASDAQ:RAVE) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a note issued to investors on Friday. The firm set a “buy” rating on the restaurant operator’s stock.

Rave Restaurant Group Price Performance

RAVE stock opened at $2.10 on Friday. The company’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $2.11. Rave Restaurant Group has a 52-week low of $1.50 and a 52-week high of $2.64. The firm has a market cap of $30.63 million, a P/E ratio of 16.15 and a beta of 0.33.

Rave Restaurant Group (NASDAQ:RAVE) last posted its earnings results on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $2.79 million for the quarter. Rave Restaurant Group had a net margin of 15.94% and a return on equity of 18.06%.

Insider Activity at Rave Restaurant Group

In related news, insider Value Llp Ima purchased 51,921 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $1.96 per share, with a total value of $101,765.16. Following the purchase, the insider now owns 1,011,807 shares of the company’s stock, valued at approximately $1,983,141.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 27.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Rave Restaurant Group

A hedge fund recently raised its stake in Rave Restaurant Group stock. Corsair Capital Management L.P. raised its holdings in Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 172,573 shares of the restaurant operator’s stock after acquiring an additional 8,258 shares during the period. Corsair Capital Management L.P. owned approximately 1.18% of Rave Restaurant Group worth $385,000 at the end of the most recent quarter. 15.12% of the stock is owned by institutional investors and hedge funds.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.