Kona Grill, Inc. (KONA) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Kona Grill, Inc. (NASDAQ:KONA) released its earnings results on Monday, July 31st. The restaurant operator reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.14, Briefing.com reports. Kona Grill had a negative return on equity of 39.42% and a negative net margin of 14.98%. The firm had revenue of $46.98 million for the quarter, compared to analyst estimates of $48.96 million. During the same period last year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year.

Kona Grill (KONA) traded down 1.96% during midday trading on Friday, reaching $2.50. The company’s stock had a trading volume of 162,393 shares. The firm has a 50 day moving average price of $2.55 and a 200-day moving average price of $4.89. The firm’s market cap is $25.26 million. Kona Grill has a 52 week low of $1.50 and a 52 week high of $14.44.

KONA has been the topic of a number of recent research reports. Telsey Advisory Group downgraded Kona Grill from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $13.00 to $8.00 in a research report on Tuesday, May 9th. Wedbush reissued an “outperform” rating and set a $11.00 target price (up from $10.00) on shares of Kona Grill in a research report on Tuesday, May 9th. ValuEngine downgraded Kona Grill from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Kona Grill from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Raymond James Financial, Inc. downgraded Kona Grill from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.67.

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In other Kona Grill news, Director James R. Jundt bought 21,100 shares of the stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $1.59 per share, with a total value of $33,549.00. Following the completion of the acquisition, the director now owns 696,611 shares of the company’s stock, valued at $1,107,611.49. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bbs Capital Fund Lp bought 50,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were acquired at an average cost of $3.65 per share, for a total transaction of $182,500.00. Following the completion of the acquisition, the insider now directly owns 92,602 shares of the company’s stock, valued at approximately $337,997.30. The disclosure for this purchase can be found here. Insiders have bought 160,100 shares of company stock worth $365,439 over the last ninety days. Insiders own 29.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of KONA. Russell Investments Group Ltd. purchased a new stake in Kona Grill during the fourth quarter valued at about $581,000. Dimensional Fund Advisors LP raised its stake in Kona Grill by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 273,144 shares of the restaurant operator’s stock valued at $3,428,000 after buying an additional 5,216 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Kona Grill during the fourth quarter valued at about $293,000. Addison Clark Management L.L.C. raised its stake in Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock valued at $1,360,000 after buying an additional 144,340 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock valued at $2,703,000 after buying an additional 11,100 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

About Kona Grill

Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.

Earnings History for Kona Grill (NASDAQ:KONA)

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