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

StockNews.com assumed coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a research note published on Tuesday morning. The firm issued a buy rating on the restaurant operator’s stock.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock opened at $1.79 on Tuesday. The stock has a market cap of $26.12 million, a price-to-earnings ratio of 11.93 and a beta of 0.56. The stock has a 50 day moving average price of $1.81 and a 200-day moving average price of $1.90. Rave Restaurant Group has a one year low of $1.64 and a one year high of $2.64.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rave Restaurant Group stock. Corsair Capital Management L.P. increased its position in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter. 15.12% of the stock is 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.