Hawk Ridge Capital Management Lp buys $3,714,646 stake in Fogo De Chao Inc (FOGO)

Fogo De Chao Inc (FOGO) : Hawk Ridge Capital Management Lp scooped up 21,000 additional shares in Fogo De Chao Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 289,754 shares of Fogo De Chao Inc which is valued at $3,714,646.Fogo De Chao Inc makes up approximately 2.09% of Hawk Ridge Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Archon Capital Management boosted its stake in FOGO in the latest quarter, The investment management firm added 40,148 additional shares and now holds a total of 285,300 shares of Fogo De Chao Inc which is valued at $3,657,546. Fogo De Chao Inc makes up approx 4.25% of Archon Capital Management’s portfolio. Buckingham Capital Management Inc added FOGO to its portfolio by purchasing 78,232 company shares during the most recent quarter which is valued at $1,002,934. Fogo De Chao Inc makes up approx 0.05% of Buckingham Capital Management Inc’s portfolio.California State Teachers Retirement System reduced its stake in FOGO by selling 400 shares or 3.69% in the most recent quarter. The Hedge Fund company now holds 10,447 shares of FOGO which is valued at $144,273.Kornitzer Capital Management Inc Ks reduced its stake in FOGO by selling 71 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 106,229 shares of FOGO which is valued at $1,447,901. Fogo De Chao Inc makes up approx 0.03% of Kornitzer Capital Management Inc Ks’s portfolio.

Fogo De Chao Inc opened for trading at $12.49 and hit $12.56 on the upside on Wednesday, eventually ending the session at $12.41, with a gain of 0.16% or 0.02 points. The heightened volatility saw the trading volume jump to 17,381 shares. Company has a market cap of $349 M.

On the company’s financial health, Fogo De Chao Inc reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.25. The company had revenue of $69.60 million for the quarter, compared to analysts expectations of $73.31 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Fogo De Chao Inc. Shares were Reiterated by Deutsche Bank on Aug 10, 2016 to “Hold” and Lowered the Price Target to $ 14.50 from a previous price target of $20 .Fogo De Chao Inc was Downgraded by Macquarie to ” Neutral” on May 24, 2016.

Fogo de Chao Inc. is a United States-based holding company. The Company through its subsidiaries operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc. (Brasa Purchaser) which owns 100% of Brasa (Holdings) Inc. (Brasa Holdings). The Company operates through two segments: United States and Brazil. It specializes in fire-roasting meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. The Company offers its guests a tasting menu of meats featuring up to 20 cuts simply seasoned and fire-roasted to expose their natural flavors. The Company operates approximately 26 restaurants in the United States 10 in Brazil and one in Mexico. The Company operates a range of restaurant formats including in-line and free-standing locations. Its restaurants range in size from approximately 7000 to 16000 square feet with seating from 200 to 500 guests.

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