Mario Gabelli, GAMCO Are Bullish on Nathan’s Famous, Inc. (NATH)
Mario Gabelli, and his fund GAMCO Investors have upped their stake in Nathan's Famous, Inc. (NASDAQ:NATH) recently. Mr. Gabelli, via its funds revealed ownership of 592,600 shares, which represent 13.26% of the company's common stock. The holding has a value of almost $29.8 million, at the current stock price of the company.
Out of the aggregate amount, GAMCO is deemed to own 226,254 shares of Nathan's Famous, Inc. (NASDAQ:NATH), which represent a significant increase from 197,350 shares disclosed by the fund in its latest 13F. GAMCO's shares account for 5.06% of the common stock. Gabelli Funds and Teton Advisors hold around 155,000 shares, and 210,800 shares respectively.
The stock of the restaurant chain operator Nathan's Famous, Inc. (NASDAQ:NATH) has increased by almost 50% since the beginning of the year, trailing a P/E close to 27. For the previous quarter, the company posted a net income of $2.7 million, slightly down from $2.9 million a year ago. EPS also declined to $0.57, from $0.62. However, the revenues of Nathan's Famous, Inc. (NASDAQ:NATH) went up by almost 11% on the year, and amounted to $23.7 million.
In the latest round of 13F filings, three hedge funds out of those we track revealed long positions in Nathan's Famous, Inc. (NASDAQ:NATH), including GAMCO. Warren Lichtenstein's Steel Partners disclosed holding 445,500 shares, worth $23.5 million, while Renaissance Technologies, managed by Jim Simons has increased its stake by 21% brining the holding to a total of 88,500 shares, with a reported value of $4.7 million.
Mario Gabelli has been very active disclosing moves in several companies from its equity portfolio. As follows, a couple of days ago, Mr. Gabelli revealed holding 6.3 million shares of Belo Corp (NYSE:BLC), from 5.2 million shares owned previously. He also disclosed an 8.27% position in Dover Motorsports, Inc. (NYSE:DVD), as well as a 7.1% stake in Mueller Industries, Inc. (NYSE:MLI).