GEN Restaurant Group Price Target Reduced by Benchmark to $11.00

Benchmark, an equities research firm, has lowered its price target for shares of GEN Restaurant Group (NASDAQ:GENK) from $14.00 to $11.00. This adjustment was made in a research note published on Friday. Despite the reduction, Benchmark maintains a "buy" rating on the stock, indicating their belief in the company's potential for future growth. The new price target implies a potential upside of approximately 59.33% based on the company's previous closing price.

GEN Restaurant Group Price Trends

On Friday, GENK shares rose by $1.81 during mid-day trading, reaching a price of $6.90. Over the course of the day, 933,668 shares changed hands, significantly higher than the average volume of 68,486 shares. The company's 50-day simple moving average is currently $6.43, while the 200-day simple moving average stands at $7.74. Over the past year, GEN Restaurant Group's stock has seen a low of $5.00 and a high of $14.46. The firm holds a market capitalization of $226.45 million, a price-to-earnings ratio of 40.18, and a beta of 1.89. Its debt-to-equity ratio is 0.12, with a quick ratio of 0.87 and a current ratio of 0.91.

Company Performance and Earnings

GEN Restaurant Group recently announced its quarterly earnings on Thursday, March 6th. The company reported a loss of ($0.02) earnings per share, falling short of the consensus estimate of ($0.01) by $0.01. The company recorded a net margin of 0.39% and a return on equity of 1.83%. Revenue for the quarter reached $54.65 million, exceeding the expected $49.77 million as per estimates by analysts. Looking ahead, analysts predict that GEN Restaurant Group will achieve earnings of $0.01 per share for the current fiscal year.

Insider Trading Activity

In related news, CEO David Wook Jin Kim made a notable purchase of 4,277 shares of GEN Restaurant Group's stock on December 19th. The shares were acquired at an average price of $7.36 each, totaling $31,478.72. Post-transaction, Kim’s holdings now amount to 151,870 shares, valued at approximately $1,117,763.20. This represents a 2.90% increase in his stock ownership. The transaction details have been disclosed in a legal filing with the Securities and Exchange Commission. Notably, insiders own 61.13% of the company’s stock.

Institutional Investor Movements

A variety of institutional investors have been active in buying and selling shares of GEN Restaurant Group. Bard Associates Inc. increased its holdings by 1.7% during the third quarter and now owns 175,676 shares valued at $1,483,000. Wasatch Advisors LP boosted its stake by an impressive 72.7%, acquiring an additional 352,922 shares during the same period, bringing its total to 838,451 shares worth $7,077,000. Portolan Capital Management LLC also increased its position by 1.8%, owning 372,759 shares now valued at $3,146,000. Both Geode Capital Management LLC and Sanders Morris Harris LLC made adjustments to their holdings as well, reflecting continued interest from hedge funds and institutional investors, who collectively own 10.22% of GEN Restaurant Group’s stock.

About GEN Restaurant Group

GEN Restaurant Group, Inc. operates a number of restaurants across the United States, including in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. The company specializes in offering a variety of meats, poultry, and seafood options. Established in 2011, GEN Restaurant Group is headquartered in Cerritos, California.

stocks, analysis, companies