Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 39,300 shares, a decrease of 45.0% from the February 28th total of 71,500 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 30,200 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RAVE. Geode Capital Management LLC lifted its position in shares of Rave Restaurant Group by 36.9% in the third quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock worth $264,000 after buying an additional 34,977 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Rave Restaurant Group by 28.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after purchasing an additional 6,682 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of Rave Restaurant Group in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 15.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Rave Restaurant Group in a research report on Friday. They issued a “buy” rating on the stock.

Rave Restaurant Group Stock Down 0.4 %

RAVE stock traded down $0.01 during midday trading on Friday, hitting $2.77. The company’s stock had a trading volume of 11,380 shares, compared to its average volume of 29,527. The firm has a market capitalization of $40.75 million, a price-to-earnings ratio of 15.39 and a beta of 0.43. Rave Restaurant Group has a 12 month low of $1.70 and a 12 month high of $3.36. The company has a 50 day moving average of $2.68 and a two-hundred day moving average of $2.65.

Rave Restaurant Group (NASDAQ:RAVE) last issued its earnings results on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share for the quarter. Rave Restaurant Group had a net margin of 21.80% and a return on equity of 20.68%.

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.