ONE Group Hospitality (NASDAQ:STKS) Announces Earnings Results

ONE Group Hospitality (NASDAQ:STKS) released its quarterly earnings data on Thursday. The restaurant operator reported ($0.30) earnings per share for the quarter, reports. The business had revenue of $193.98 million for the quarter, compared to analyst estimates of $217.95 million. ONE Group Hospitality had a positive return on equity of 14.72% and a negative net margin of 2.45%. ONE Group Hospitality updated its FY 2024 guidance to EPS.

ONE Group Hospitality Stock Down 18.6 %

STKS opened at $3.19 on Friday. ONE Group Hospitality has a fifty-two week low of $3.06 and a fifty-two week high of $6.45. The company’s 50-day moving average is $3.54 and its 200 day moving average is $4.28. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.63 and a quick ratio of 0.55.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of ONE Group Hospitality from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Stephens reissued an “overweight” rating and issued a $9.00 price objective on shares of ONE Group Hospitality in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On ONE Group Hospitality

Institutional investors have recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC purchased a new position in shares of ONE Group Hospitality in the 3rd quarter worth approximately $44,000. Legato Capital Management LLC purchased a new position in ONE Group Hospitality in the second quarter worth $45,000. GSA Capital Partners LLP bought a new position in ONE Group Hospitality in the 3rd quarter valued at $54,000. Panagora Asset Management Inc. grew its stake in ONE Group Hospitality by 79.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 61,777 shares of the restaurant operator’s stock valued at $263,000 after purchasing an additional 27,354 shares during the period. Finally, American Century Companies Inc. increased its position in shares of ONE Group Hospitality by 60.0% during the 2nd quarter. American Century Companies Inc. now owns 307,841 shares of the restaurant operator’s stock valued at $1,308,000 after purchasing an additional 115,394 shares during the last quarter. 29.14% of the stock is owned by institutional investors.

ONE Group Hospitality Company Profile

The ONE Group Hospitality, Inc, a restaurant company, develops, owns, operates, manages, and licenses restaurants and lounges worldwide. It operates through STK, Kona Grill, and ONE Hospitality segments. The company also provides turn-key food and beverage services for hospitality venues, including hotels, casinos, and other locations.