Ruth’s Hospitality Group, Inc. (RUTH) Stake Increased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lifted its stake in shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 60.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,355 shares of the restaurant operator’s stock after acquiring an additional 6,910 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.06% of Ruth’s Hospitality Group worth $385,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. bought a new stake in shares of Ruth’s Hospitality Group during the 2nd quarter worth about $150,000. HL Financial Services LLC bought a new stake in shares of Ruth’s Hospitality Group during the 2nd quarter worth about $206,000. Trexquant Investment LP bought a new stake in shares of Ruth’s Hospitality Group during the 2nd quarter worth about $209,000. Neuberger Berman Group LLC bought a new stake in shares of Ruth’s Hospitality Group during the 2nd quarter worth about $212,000. Finally, Sawgrass Asset Management LLC bought a new stake in shares of Ruth’s Hospitality Group during the 2nd quarter worth about $212,000. Institutional investors own 81.32% of the company’s stock.

Shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) opened at $21.40 on Monday. Ruth’s Hospitality Group, Inc. has a 52 week low of $16.55 and a 52 week high of $22.65. The firm has a market capitalization of $669.35, a P/E ratio of 22.29, a P/E/G ratio of 1.45 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 0.41.

Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its earnings results on Friday, November 3rd. The restaurant operator reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Ruth’s Hospitality Group had a net margin of 7.47% and a return on equity of 35.46%. The business had revenue of $85.16 million for the quarter, compared to the consensus estimate of $87.20 million. During the same quarter in the previous year, the company earned $0.10 EPS. Ruth’s Hospitality Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts forecast that Ruth’s Hospitality Group, Inc. will post 1.03 earnings per share for the current year.

Ruth’s Hospitality Group announced that its Board of Directors has approved a share buyback program on Friday, November 3rd that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were paid a dividend of $0.09 per share. This is an increase from Ruth’s Hospitality Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.36 annualized dividend and a yield of 1.68%. Ruth’s Hospitality Group’s dividend payout ratio is presently 37.90%.

In related news, COO Kevin W. Toomy sold 1,856 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $20.00, for a total transaction of $37,120.00. Following the completion of the sale, the chief operating officer now owns 157,551 shares in the company, valued at approximately $3,151,020. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kevin W. Toomy sold 24,548 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.91, for a total value of $488,750.68. Following the completion of the sale, the chief operating officer now owns 157,551 shares of the company’s stock, valued at approximately $3,136,840.41. The disclosure for this sale can be found here. 7.45% of the stock is owned by corporate insiders.

RUTH has been the subject of several recent analyst reports. Jefferies Group reiterated a “hold” rating and set a $20.00 price target on shares of Ruth’s Hospitality Group in a research note on Thursday, August 31st. Zacks Investment Research upgraded Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded Ruth’s Hospitality Group from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Ruth’s Hospitality Group presently has an average rating of “Hold” and a consensus target price of $22.00.

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Ruth’s Hospitality Group 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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