Stoneridge Investment Partners LLC Purchases New Position in The ONE Group Hospitality, Inc. (NASDAQ:STKS)

Stoneridge Investment Partners LLC acquired a new position in The ONE Group Hospitality, Inc. (NASDAQ:STKS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,890 shares of the restaurant operator’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legato Capital Management LLC purchased a new position in ONE Group Hospitality in the 2nd quarter worth about $45,000. Panagora Asset Management Inc. grew its stake in shares of ONE Group Hospitality by 79.5% in the second quarter. Panagora Asset Management Inc. now owns 61,777 shares of the restaurant operator’s stock worth $263,000 after acquiring an additional 27,354 shares during the period. GSA Capital Partners LLP raised its holdings in shares of ONE Group Hospitality by 124.8% during the first quarter. GSA Capital Partners LLP now owns 104,257 shares of the restaurant operator’s stock valued at $581,000 after purchasing an additional 57,878 shares during the last quarter. American Century Companies Inc. lifted its position in ONE Group Hospitality by 60.0% during the second 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 period. Finally, Meros Investment Management LP boosted its holdings in ONE Group Hospitality by 1.6% in the second quarter. Meros Investment Management LP now owns 696,382 shares of the restaurant operator’s stock worth $2,960,000 after purchasing an additional 10,954 shares during the last quarter. 29.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STKS shares. Stephens reiterated an “overweight” rating and set a $9.00 target price on shares of ONE Group Hospitality in a research note on Wednesday, August 7th. StockNews.com downgraded ONE Group Hospitality from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

ONE Group Hospitality Price Performance

Shares of ONE Group Hospitality stock opened at $3.43 on Tuesday. The firm has a market cap of $106.84 million, a PE ratio of -9.03 and a beta of 2.40. The stock has a 50 day moving average of $3.56 and a 200 day moving average of $4.32. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 5.03. The ONE Group Hospitality, Inc. has a 12 month low of $3.13 and a 12 month high of $6.45.

ONE Group Hospitality (NASDAQ:STKS) last posted its earnings results on Tuesday, August 6th. The restaurant operator reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $172.49 million for the quarter, compared to the consensus estimate of $178.22 million. ONE Group Hospitality had a negative net margin of 1.76% and a positive return on equity of 14.71%. During the same period in the previous year, the firm posted $0.06 EPS. On average, research analysts expect that The ONE Group Hospitality, Inc. will post 0.5 EPS for the current fiscal year.

About ONE Group Hospitality

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.