Engine Capital Management LLC bought a new position in shares of Kona Grill, Inc. (NASDAQ:KONA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,000 shares of the restaurant operator’s stock, valued at approximately $189,000. Kona Grill comprises approximately 0.2% of Engine Capital Management LLC’s holdings, making the stock its 29th largest position. Engine Capital Management LLC owned approximately 0.30% of Kona Grill as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in KONA. Renaissance Technologies LLC increased its position in shares of Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock worth $2,703,000 after buying an additional 11,100 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kona Grill by 5.5% in the first quarter. Vanguard Group Inc. now owns 365,025 shares of the restaurant operator’s stock worth $2,300,000 after buying an additional 19,006 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kona Grill by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 323,830 shares of the restaurant operator’s stock worth $2,040,000 after buying an additional 50,686 shares in the last quarter. Addison Clark Management L.L.C. increased its position in shares of Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock worth $1,360,000 after buying an additional 144,340 shares in the last quarter. Finally, State Street Corp increased its position in shares of Kona Grill by 0.8% in the fourth quarter. State Street Corp now owns 108,747 shares of the restaurant operator’s stock worth $1,366,000 after buying an additional 847 shares in the last quarter. Institutional investors own 62.90% of the company’s stock.
Shares of Kona Grill, Inc. (NASDAQ KONA) remained flat at $3.25 during midday trading on Tuesday. The company’s stock had a trading volume of 204,744 shares. The stock has a 50-day moving average price of $4.29 and a 200 day moving average price of $7.43. The company’s market capitalization is $32.82 million. Kona Grill, Inc. has a 52-week low of $3.20 and a 52-week high of $14.44.
Kona Grill (NASDAQ:KONA) last released its quarterly earnings results on Monday, May 8th. The restaurant operator reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. Kona Grill had a negative net margin of 13.31% and a negative return on equity of 30.92%. The business had revenue of $45.20 million during the quarter, compared to analyst estimates of $46.96 million. During the same quarter last year, the company posted ($0.15) earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that Kona Grill, Inc. will post ($0.82) earnings per share for the current fiscal year.
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Several brokerages recently weighed in on KONA. ValuEngine cut Kona Grill from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target (up from $10.00) on shares of Kona Grill in a research note on Tuesday, May 9th. Telsey Advisory Group cut Kona Grill from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $13.00 to $8.00 in a research note on Tuesday, May 9th. Finally, Feltl & Co. cut Kona Grill from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.75.
In other news, major shareholder Bbs Capital Fund Lp acquired 50,000 shares of Kona Grill stock in a transaction on Tuesday, June 6th. The shares were purchased at an average cost of $3.65 per share, for a total transaction of $182,500.00. Following the completion of the purchase, the insider now directly owns 92,602 shares of the company’s stock, valued at approximately $337,997.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 101,000 shares of company stock worth $429,250 over the last 90 days. 29.20% of the stock is currently owned by corporate insiders.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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