Del Frisco’s Restaurant Group, Inc. (DFRG) Reaches New 12-Month Low on Disappointing Earnings

Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) shares reached a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $13.00 and last traded at $0.00, with a volume of shares changing hands. The restaurant operator reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The firm had revenue of $73.30 million for the quarter, compared to the consensus estimate of $73.58 million. Del Frisco’s Restaurant Group had a net margin of 3.73% and a return on equity of 7.39%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share.

A number of analysts have recently issued reports on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $16.00 price target on shares of Del Frisco’s Restaurant Group in a report on Sunday, October 1st. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $20.00 price target on shares of Del Frisco’s Restaurant Group in a report on Monday, July 24th. BidaskClub downgraded shares of Del Frisco’s Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research raised shares of Del Frisco’s Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Del Frisco’s Restaurant Group currently has an average rating of “Hold” and a consensus target price of $18.10.

In related news, VP Thomas G. Dritsas purchased 7,194 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $13.97 per share, with a total value of $100,500.18. Following the acquisition, the vice president now directly owns 10,848 shares in the company, valued at approximately $151,546.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ian Russell Carter purchased 12,200 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were bought at an average cost of $14.00 per share, for a total transaction of $170,800.00. Following the acquisition, the director now owns 38,339 shares in the company, valued at $536,746. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 57,394 shares of company stock worth $809,299. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in shares of Del Frisco’s Restaurant Group in the second quarter worth approximately $13,574,000. Macquarie Group Ltd. boosted its holdings in shares of Del Frisco’s Restaurant Group by 21.8% in the second quarter. Macquarie Group Ltd. now owns 1,666,193 shares of the restaurant operator’s stock worth $26,826,000 after buying an additional 298,294 shares during the last quarter. Numeric Investors LLC boosted its holdings in shares of Del Frisco’s Restaurant Group by 1,125.8% in the second quarter. Numeric Investors LLC now owns 267,218 shares of the restaurant operator’s stock worth $4,302,000 after buying an additional 245,418 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Del Frisco’s Restaurant Group by 15.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,395,582 shares of the restaurant operator’s stock worth $25,190,000 after buying an additional 190,478 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Del Frisco’s Restaurant Group by 17.1% in the first quarter. Wellington Management Group LLP now owns 1,068,102 shares of the restaurant operator’s stock worth $19,279,000 after buying an additional 155,999 shares during the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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About Del Frisco’s Restaurant Group

Del Frisco’s Restaurant Group, Inc develops, owns and operates three contemporary, complementary restaurants: Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). As of December 27, 2016, the Company operated 53 restaurants in 24 states and the District of Columbia in the United States.

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