StockNews.com Initiates Coverage on Rave Restaurant Group (NASDAQ:RAVE)

StockNews.com began coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a research report issued on Monday. The firm set a “buy” rating on the restaurant operator’s stock.

Rave Restaurant Group Stock Down 1.1 %

Shares of RAVE opened at $1.76 on Monday. The stock has a 50 day moving average price of $1.82 and a 200 day moving average price of $1.91. The company has a market capitalization of $25.68 million, a price-to-earnings ratio of 11.73 and a beta of 0.56. Rave Restaurant Group has a 52-week low of $1.62 and a 52-week high of $2.64.

Hedge Funds Weigh In On Rave Restaurant Group

An institutional investor recently raised its position in Rave Restaurant Group stock. Corsair Capital Management L.P. boosted its holdings in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 172,573 shares of the restaurant operator’s stock after purchasing an additional 8,258 shares during the period. Corsair Capital Management L.P. owned approximately 1.18% of Rave Restaurant Group worth $385,000 as of its most recent filing with the SEC. 15.12% of the stock is currently owned by hedge funds and other institutional investors.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.