Oppenheimer Asset Management Inc. Purchases New Position in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH)

Oppenheimer Asset Management Inc. bought a new position in shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,172 shares of the restaurant operator’s stock, valued at approximately $184,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Ruth’s Hospitality Group during the fourth quarter worth $207,000. Comerica Bank raised its position in Ruth’s Hospitality Group by 4.3% in the fourth quarter. Comerica Bank now owns 27,239 shares of the restaurant operator’s stock worth $475,000 after buying an additional 1,131 shares in the last quarter. State Street Corp raised its position in Ruth’s Hospitality Group by 3.9% in the fourth quarter. State Street Corp now owns 862,132 shares of the restaurant operator’s stock worth $15,777,000 after buying an additional 32,643 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Ruth’s Hospitality Group by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,380,501 shares of the restaurant operator’s stock worth $25,263,000 after buying an additional 29,841 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Ruth’s Hospitality Group by 8.5% in the fourth quarter. AQR Capital Management LLC now owns 416,017 shares of the restaurant operator’s stock worth $7,613,000 after buying an additional 32,671 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.

Shares of Ruth’s Hospitality Group, Inc. (RUTH) traded up 0.71% during mid-day trading on Tuesday, reaching $19.90. The company had a trading volume of 159,397 shares. The company has a 50 day moving average price of $21.15 and a 200 day moving average price of $19.86. Ruth’s Hospitality Group, Inc. has a one year low of $13.74 and a one year high of $22.65. The company has a market capitalization of $605.10 million, a price-to-earnings ratio of 19.66 and a beta of 0.29.

Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its quarterly earnings data on Friday, July 28th. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $100 million during the quarter, compared to analyst estimates of $99.34 million. Ruth’s Hospitality Group had a return on equity of 37.86% and a net margin of 7.97%. Ruth’s Hospitality Group’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, analysts anticipate that Ruth’s Hospitality Group, Inc. will post $1.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.81%. Ruth’s Hospitality Group’s dividend payout ratio (DPR) is 35.64%.

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A number of research analysts have recently weighed in on RUTH shares. Zacks Investment Research upgraded Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, April 18th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Ruth’s Hospitality Group in a report on Thursday, April 20th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating on shares of Ruth’s Hospitality Group in a report on Friday, May 5th. Citigroup Inc. restated a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Ruth’s Hospitality Group in a report on Monday, May 15th. Finally, BidaskClub lowered Ruth’s Hospitality Group from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Ruth’s Hospitality Group presently has an average rating of “Hold” and an average price target of $21.60.

In other news, Director Carla Cooper sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $21.20, for a total value of $63,600.00. Following the completion of the sale, the director now directly owns 36,048 shares in the company, valued at approximately $764,217.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Odonnell sold 81,800 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.05, for a total value of $1,721,890.00. Following the completion of the sale, the chief executive officer now owns 1,194,524 shares of the company’s stock, valued at approximately $25,144,730.20. The disclosure for this sale can be found here. Insiders sold a total of 87,800 shares of company stock valued at $1,848,970 over the last 90 days. 6.74% of the stock is currently owned by company insiders.

Ruth’s Hospitality Group Company Profile

Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.

Institutional Ownership by Quarter for Ruth`s Hospitality Group (NASDAQ:RUTH)

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