Del Frisco’s Restaurant Group (NASDAQ:DFRG) CEO Norman J. Abdallah Acquires 15,000 Shares

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Del Frisco’s Restaurant Group (NASDAQ:DFRG) CEO Norman J. Abdallah purchased 15,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was purchased at an average cost of $16.13 per share, for a total transaction of $241,950.00. Following the purchase, the chief executive officer now directly owns 67,712 shares in the company, valued at $1,092,194.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NASDAQ DFRG traded up $0.15 during trading on Friday, reaching $16.15. 109,413 shares of the company’s stock were exchanged, compared to its average volume of 271,939. The company has a market cap of $320.40, a PE ratio of 21.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. The company has a quick ratio of 0.37, a current ratio of 0.71 and a debt-to-equity ratio of 0.13. Del Frisco’s Restaurant Group has a fifty-two week low of $11.70 and a fifty-two week high of $18.85.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its quarterly earnings results on Thursday, March 8th. The restaurant operator reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $121.89 million for the quarter, compared to analyst estimates of $123.12 million. Del Frisco’s Restaurant Group had a positive return on equity of 7.21% and a negative net margin of 3.17%. Del Frisco’s Restaurant Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. research analysts anticipate that Del Frisco’s Restaurant Group will post 0.68 EPS for the current fiscal year.

Del Frisco’s Restaurant Group announced that its Board of Directors has initiated a share repurchase program on Thursday, March 8th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several large investors have recently modified their holdings of the company. Voya Investment Management LLC boosted its holdings in shares of Del Frisco’s Restaurant Group by 12.7% during the second quarter. Voya Investment Management LLC now owns 14,576 shares of the restaurant operator’s stock worth $235,000 after acquiring an additional 1,643 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Del Frisco’s Restaurant Group by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 79,916 shares of the restaurant operator’s stock valued at $1,163,000 after buying an additional 4,021 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Del Frisco’s Restaurant Group by 6.1% in the third quarter. Bank of New York Mellon Corp now owns 165,249 shares of the restaurant operator’s stock valued at $2,405,000 after buying an additional 9,445 shares during the period. Penn Capital Management Co. Inc. boosted its stake in shares of Del Frisco’s Restaurant Group by 3.9% in the fourth quarter. Penn Capital Management Co. Inc. now owns 285,537 shares of the restaurant operator’s stock valued at $4,354,000 after buying an additional 10,694 shares during the period. Finally, Comerica Bank boosted its stake in shares of Del Frisco’s Restaurant Group by 12.8% in the third quarter. Comerica Bank now owns 103,368 shares of the restaurant operator’s stock valued at $1,452,000 after buying an additional 11,700 shares during the period. Institutional investors own 86.58% of the company’s stock.

Several analysts have issued reports on the company. BidaskClub downgraded Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Zacks Investment Research raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Friday, January 12th. Deutsche Bank raised Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $17.50 target price (down previously from $20.00) on shares of Del Frisco’s Restaurant Group in a research report on Tuesday, March 13th. Finally, Bank of America raised Del Frisco’s Restaurant Group to a “buy” rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.50.

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Del Frisco’s Restaurant Group Company Profile

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, Sullivan's Steakhouse, and Del Frisco's Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood.

Insider Buying and Selling by Quarter for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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