Stock Traders Buy High Volume of Call Options on Rave Restaurant Group (NASDAQ:RAVE)

by · The Markets Daily

Rave Restaurant Group, Inc. (NASDAQ:RAVE – Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 3,941 call options on the company. This is an increase of 10,551% compared to the average daily volume of 37 call options.

Hedge Funds Weigh In On Rave Restaurant Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Watchman Group Inc. boosted its stake in shares of Rave Restaurant Group by 5.6% in the first quarter. Watchman Group Inc. now owns 182,800 shares of the restaurant operator’s stock valued at $503,000 after buying an additional 9,700 shares in the last quarter. Militia Capital Partners LP acquired a new position in Rave Restaurant Group in the first quarter valued at $30,000. Finally, Evergreen Capital Management LLC acquired a new position in Rave Restaurant Group in the second quarter valued at $56,000. 15.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Get Our Latest Stock Analysis on Rave Restaurant Group

Rave Restaurant Group Price Performance

NASDAQ RAVE traded up $0.43 during mid-day trading on Thursday, hitting $2.91. The stock had a trading volume of 82,449 shares, compared to its average volume of 31,312. The firm’s 50 day moving average is $3.08 and its 200 day moving average is $2.84. Rave Restaurant Group has a twelve month low of $2.01 and a twelve month high of $3.75. The stock has a market capitalization of $41.36 million, a price-to-earnings ratio of 15.16 and a beta of 0.45.

Rave Restaurant Group (NASDAQ:RAVE – Get Free Report) last issued its earnings results on Thursday, September 25th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $3.15 million during the quarter. Rave Restaurant Group had a return on equity of 19.80% and a net margin of 22.44%.

Rave Restaurant Group Company Profile

(Get Free Report)

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.

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