Cadence Capital Management LLC Buys 30,485 Shares of Ruth's Hospitality Group, Inc. (RUTH)

Cadence Capital Management LLC raised its holdings in Ruth's Hospitality Group, Inc. (NASDAQ:RUTH) by 54.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,100 shares of the restaurant operator’s stock after buying an additional 30,485 shares during the period. Cadence Capital Management LLC’s holdings in Ruth's Hospitality Group were worth $1,864,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in Ruth's Hospitality Group by 3.1% in the second quarter. Voya Investment Management LLC now owns 44,698 shares of the restaurant operator’s stock valued at $972,000 after buying an additional 1,326 shares during the period. Strs Ohio raised its stake in Ruth's Hospitality Group by 7.5% in the third quarter. Strs Ohio now owns 37,200 shares of the restaurant operator’s stock valued at $779,000 after buying an additional 2,600 shares during the period. California Public Employees Retirement System raised its stake in Ruth's Hospitality Group by 2.1% in the second quarter. California Public Employees Retirement System now owns 134,700 shares of the restaurant operator’s stock valued at $2,930,000 after buying an additional 2,800 shares during the period. Nationwide Fund Advisors raised its stake in Ruth's Hospitality Group by 6.8% in the third quarter. Nationwide Fund Advisors now owns 46,511 shares of the restaurant operator’s stock valued at $974,000 after buying an additional 2,949 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in Ruth's Hospitality Group by 5.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 82,700 shares of the restaurant operator’s stock valued at $1,790,000 after buying an additional 4,100 shares during the period. Hedge funds and other institutional investors own 81.51% of the company’s stock.

Several analysts have issued reports on RUTH shares. ValuEngine upgraded Ruth's Hospitality Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. BidaskClub upgraded Ruth's Hospitality Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Ruth's Hospitality Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, January 4th. Finally, Raymond James Financial upgraded Ruth's Hospitality Group from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ruth's Hospitality Group currently has a consensus rating of “Buy” and an average price target of $23.40.

Ruth's Hospitality Group, Inc. (NASDAQ RUTH) opened at $22.75 on Friday. The firm has a market capitalization of $718.95, a P/E ratio of 23.70, a PEG ratio of 1.35 and a beta of 0.38. 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, Inc. has a 52 week low of $16.65 and a 52 week high of $24.15.

Ruth's Hospitality Group declared that its Board of Directors has authorized a share buyback program on Friday, November 3rd that permits the company to buyback $60.00 million in outstanding 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 management believes its shares are undervalued.

In other news, COO Cheryl Janet Henry sold 18,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $21.47, for a total transaction of $386,460.00. Following the transaction, the chief operating officer now owns 343,617 shares in the company, valued at $7,377,456.99. 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 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 transaction, the chief operating officer now owns 157,551 shares in the company, valued at approximately $3,136,840.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,404 shares of company stock worth $912,331. 7.45% of the stock is owned by corporate insiders.

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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.

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

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