Insider Buying: Del Frisco’s Restaurant Group Inc (NASDAQ:DFRG) Major Shareholder Purchases 30,000 Shares of Stock

Del Frisco’s Restaurant Group Inc (NASDAQ:DFRG) major shareholder Armistice Capital, Llc acquired 30,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were bought at an average price of $6.73 per share, for a total transaction of $201,900.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Armistice Capital, Llc also recently made the following trade(s):

  • On Tuesday, May 7th, Armistice Capital, Llc acquired 110,000 shares of Del Frisco’s Restaurant Group stock. The stock was purchased at an average cost of $6.18 per share, for a total transaction of $679,800.00.
  • On Tuesday, April 30th, Armistice Capital, Llc bought 70,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average cost of $6.64 per share, for a total transaction of $464,800.00.
  • On Monday, March 18th, Armistice Capital, Llc bought 119,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average cost of $6.86 per share, for a total transaction of $816,340.00.
  • On Tuesday, March 12th, Armistice Capital, Llc bought 50,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average cost of $8.01 per share, for a total transaction of $400,500.00.

DFRG stock opened at $4.75 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.21 and a current ratio of 0.43. Del Frisco’s Restaurant Group Inc has a 1-year low of $4.69 and a 1-year high of $14.70. The firm has a market capitalization of $173.76 million, a price-to-earnings ratio of -26.39 and a beta of 0.80.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last posted its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The business had revenue of $120.38 million for the quarter, compared to analysts’ expectations of $121.65 million. Del Frisco’s Restaurant Group had a negative return on equity of 1.15% and a negative net margin of 21.62%. As a group, research analysts predict that Del Frisco’s Restaurant Group Inc will post -0.24 earnings per share for the current year.

Several analysts have recently issued reports on DFRG shares. Zacks Investment Research raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Tuesday, April 16th. BidaskClub lowered Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. ValuEngine lowered Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. initiated coverage on Del Frisco’s Restaurant Group in a research note on Friday, February 15th. They issued a “neutral” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.70.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in Del Frisco’s Restaurant Group by 33.6% in the third quarter. Bank of New York Mellon Corp now owns 129,825 shares of the restaurant operator’s stock worth $1,077,000 after acquiring an additional 32,649 shares in the last quarter. BlackRock Inc. grew its position in Del Frisco’s Restaurant Group by 51.3% in the third quarter. BlackRock Inc. now owns 2,176,124 shares of the restaurant operator’s stock worth $18,063,000 after acquiring an additional 737,922 shares in the last quarter. JPMorgan Chase & Co. grew its position in Del Frisco’s Restaurant Group by 3,382.0% in the third quarter. JPMorgan Chase & Co. now owns 334,202 shares of the restaurant operator’s stock worth $2,774,000 after acquiring an additional 324,604 shares in the last quarter. Renaissance Technologies LLC grew its position in Del Frisco’s Restaurant Group by 43.1% in the third quarter. Renaissance Technologies LLC now owns 378,400 shares of the restaurant operator’s stock worth $3,141,000 after acquiring an additional 114,021 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Del Frisco’s Restaurant Group in the third quarter worth about $125,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.

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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, 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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