Bandera Partners adds Famous Dave's of America (DAVE) to its portfolio

Famous Dave's of America (DAVE) : Bandera Partners added new position in Famous Dave's of America during the most recent quarter end. The investment management firm now holds 634,919 shares of Famous Dave's of America which is valued at $3.1 Million , the company said in a statement filed on May 13, 2016 with the SEC.Famous Dave's of America makes up approximately 1.90% of Bandera Partners’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in DAVE by selling 1,003 shares or 6.85% in the most recent quarter. The Hedge Fund company now holds 13,649 shares of DAVE which is valued at $66,880.

Famous Dave's of America opened for trading at $5.32 and hit $5.5 on the upside on Wednesday, eventually ending the session at $5.41, with a gain of 1.69% or 0.09 points. The heightened volatility saw the trading volume jump to 23,990 shares. Company has a market cap of $38 M.

On the company’s financial health, Famous Dave's of America reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 16, 2016. Analyst had a consensus of $-0.08. The company had revenue of $23.50 million for the quarter, compared to analysts expectations of $24.42 million. The company’s revenue was down -17.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Famous Dave’s of America Inc. owns operates and franchises restaurants. The Company’s menu focuses on smoked barbequed grilled meats entree items and side dishes which are prepared using seasonings sauces and mixes. As of December 28 2014 there were 189 Famous Dave’s restaurants operating in 34 states the Commonwealth of Puerto Rico and Canada including 50 Company-owned restaurants and 139 franchise-operated restaurants. As of December 28 2014 43 of its Company-owned restaurants were full-service and seven were counter-service. The Company’s prototypical design includes elements such as a designated bar a signature exterior smokestack a separate entrance for its To Go business and a patio (where available).

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