Del Frisco’s Restaurant Group Inc (DFRG) Major Shareholder Acquires $504,000.00 in Stock

Del Frisco’s Restaurant Group Inc (NASDAQ:DFRG) major shareholder Armistice Capital Master Fund acquired 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $5.60 per share, with a total value of $504,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Armistice Capital Master Fund also recently made the following trade(s):

  • On Thursday, May 9th, Armistice Capital Master Fund bought 265,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $6.09 per share, with a total value of $1,613,850.00.
  • On Wednesday, April 3rd, Armistice Capital Master Fund bought 85,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $6.38 per share, with a total value of $542,300.00.
  • On Wednesday, March 27th, Armistice Capital Master Fund bought 65,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $6.40 per share, with a total value of $416,000.00.
  • On Monday, March 25th, Armistice Capital Master Fund bought 150,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $6.43 per share, with a total value of $964,500.00.
  • On Wednesday, March 20th, Armistice Capital Master Fund bought 319,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $6.52 per share, with a total value of $2,079,880.00.
  • On Friday, March 15th, Armistice Capital Master Fund bought 571,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $7.26 per share, with a total value of $4,145,460.00.
  • On Wednesday, March 6th, Armistice Capital Master Fund bought 52,000 shares of Del Frisco’s Restaurant Group stock. The shares were bought at an average price of $8.19 per share, with a total value of $425,880.00.

NASDAQ:DFRG opened at $4.79 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $173.76 million, a PE ratio of -26.61 and a beta of 0.80. Del Frisco’s Restaurant Group Inc has a one year low of $4.77 and a one year high of $15.10.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last posted its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $120.38 million during the quarter, compared to analyst estimates of $121.65 million. Del Frisco’s Restaurant Group had a negative return on equity of 1.15% and a negative net margin of 21.62%. Sell-side analysts expect that Del Frisco’s Restaurant Group Inc will post -0.24 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Del Frisco’s Restaurant Group in a research note on Friday, February 15th. They set a “neutral” rating and a $9.00 target price for the company. ValuEngine lowered shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Monday, February 4th. Finally, BidaskClub lowered shares of Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.70.

Several large investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Del Frisco’s Restaurant Group by 4.9% in the 4th quarter. FMR LLC now owns 4,979,723 shares of the restaurant operator’s stock worth $35,605,000 after purchasing an additional 234,800 shares in the last quarter. Engaged Capital LLC purchased a new stake in shares of Del Frisco’s Restaurant Group in the 4th quarter worth $23,795,000. BlackRock Inc. increased its stake in shares of Del Frisco’s Restaurant Group by 5.3% in the 4th quarter. BlackRock Inc. now owns 2,292,283 shares of the restaurant operator’s stock worth $16,391,000 after purchasing an additional 116,159 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Del Frisco’s Restaurant Group by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,621 shares of the restaurant operator’s stock worth $12,157,000 after purchasing an additional 259,547 shares in the last quarter. Finally, Vanguard Group Inc increased its stake in shares of Del Frisco’s Restaurant Group by 49.8% in the 3rd quarter. Vanguard Group Inc now owns 1,484,945 shares of the restaurant operator’s stock worth $12,325,000 after purchasing an additional 493,456 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.

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About Del Frisco’s Restaurant Group

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, Del Frisco's Grille, Barcelona Wine Bar, and bartaco brand names. The company offers steaks, as well as other menu selections, such as chops, fresh seafood, tapas, street food, and wines and cocktails.

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