Del Frisco’s Restaurant Group Inc (NASDAQ:DFRG) shares were up 7.4% during trading on Tuesday following insider buying activity. The company traded as high as $6.54 and last traded at $6.69. Approximately 2,159,587 shares changed hands during trading, an increase of 207% from the average daily volume of 702,590 shares. The stock had previously closed at $6.23.

Specifically, major shareholder Armistice Capital, Llc purchased 119,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $816,340.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Armistice Capital Master Fund purchased 52,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $8.19 per share, with a total value of $425,880.00. The disclosure for this purchase can be found here. Insiders acquired a total of 2,041,000 shares of company stock worth $13,573,710 over the last three months. Corporate insiders own 2.00% of the company’s stock.

A number of brokerages have recently issued reports on DFRG. Zacks Investment Research upgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Tuesday, April 16th. BidaskClub downgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. began coverage on shares of Del Frisco’s Restaurant Group in a report on Friday, February 15th. They set a “neutral” rating and a $9.00 price target for the company. Finally, ValuEngine downgraded shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.70.

The firm has a market capitalization of $208.18 million, a PE ratio of -37.78 and a beta of 0.80. The company has a current ratio of 0.43, a quick ratio of 0.21 and a debt-to-equity ratio of 2.58.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.07. Del Frisco’s Restaurant Group had a negative net margin of 21.62% and a negative return on equity of 1.15%. The business had revenue of $120.38 million during the quarter, compared to the consensus estimate of $121.65 million. Research analysts forecast that Del Frisco’s Restaurant Group Inc will post -0.24 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Del Frisco’s Restaurant Group by 68.4% in the 3rd quarter. Legal & General Group Plc now owns 4,974 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 2,020 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Del Frisco’s Restaurant Group by 398.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,917 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 5,529 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Del Frisco’s Restaurant Group by 257.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,212 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 6,632 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Del Frisco’s Restaurant Group in the 4th quarter valued at approximately $82,000. Finally, Menta Capital LLC acquired a new stake in Del Frisco’s Restaurant Group in the 4th quarter valued at approximately $98,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.

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About Del Frisco’s Restaurant Group (NASDAQ:DFRG)

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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