Benchmark Issues Pessimistic Forecast for GEN Restaurant Group (NASDAQ:GENK) Stock Price

GEN Restaurant Group (NASDAQ:GENK) had its target price lowered by equities research analysts at Benchmark from $14.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 76.00% from the company’s previous close.

GEN Restaurant Group Trading Up 22.8 %

GEN Restaurant Group stock opened at $6.25 on Friday. The firm’s 50 day moving average price is $6.41 and its 200-day moving average price is $7.72. GEN Restaurant Group has a 1 year low of $5.00 and a 1 year high of $14.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market cap of $205 million, a P/E ratio of 36.76 and a beta of 1.89.

GEN Restaurant Group (NASDAQ:GENK) last posted its earnings results on Thursday, March 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). GEN Restaurant Group had a net margin of 0.39% and a return on equity of 1.83%. The business had revenue of $54.65 million during the quarter, compared to analysts’ expectations of $49.77 million. On average, equities analysts predict that GEN Restaurant Group will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Wook Jin Kim bought 4,277 shares of the stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $7.36 per share, with a total value of $31,478.72. Following the completion of the purchase, the chief executive officer now owns 151,870 shares of the company’s stock, valued at $1,117,763.20. This trade represents a 2.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 61.13% of the stock is owned by insiders.

Institutional Trading of GEN Restaurant Group

Several institutional investors and hedge funds have recently made changes to their positions in GENK. Wasatch Advisors LP raised its holdings in shares of GEN Restaurant Group by 72.7% in the third quarter. Wasatch Advisors LP now owns 838,451 shares of the company’s stock valued at $7,077,000 after acquiring an additional 352,922 shares in the last quarter. Diametric Capital LP raised its holdings in shares of GEN Restaurant Group by 163.7% in the fourth quarter. Diametric Capital LP now owns 67,933 shares of the company’s stock valued at $508,000 after acquiring an additional 42,175 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of GEN Restaurant Group by 235.8% in the fourth quarter. Renaissance Technologies LLC now owns 54,400 shares of the company’s stock valued at $407,000 after acquiring an additional 38,200 shares in the last quarter. Sanders Morris Harris LLC raised its holdings in shares of GEN Restaurant Group by 14.3% in the fourth quarter. Sanders Morris Harris LLC now owns 219,990 shares of the company’s stock valued at $1,628,000 after acquiring an additional 27,591 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of GEN Restaurant Group by 68.3% in the fourth quarter. Northern Trust Corp now owns 25,071 shares of the company’s stock valued at $188,000 after acquiring an additional 10,176 shares in the last quarter. 10.22% of the stock is currently owned by institutional investors.

About GEN Restaurant Group

GEN Restaurant Group, Inc operates restaurants in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. It offers meats, poultry, and seafood. The company was founded in 2011 and is based in Cerritos, California.