Pleasant Lake Partners Lowers stake in Famous Dave's of America (DAVE)

Famous Dave's of America (DAVE) : Pleasant Lake Partners reduced its stake in Famous Dave's of America by 40.59% during the most recent quarter end. The investment management company now holds a total of 548,555 shares of Famous Dave's of America which is valued at $3,187,105 after selling 374,806 shares in Famous Dave's of America , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Famous Dave's of America makes up approximately 2.58% of Pleasant Lake Partners’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc sold out all of its stake in DAVE during the most recent quarter. The investment firm sold 10,400 shares of DAVE which is valued $60,424. Greenwich Wealth Management added DAVE to its portfolio by purchasing 11,400 company shares during the most recent quarter which is valued at $66,234. Famous Dave's of America makes up approx 0.01% of Greenwich Wealth Management’s portfolio.Tower Research Capital (trc) reduced its stake in DAVE by selling 653 shares or 74.2% in the most recent quarter. The Hedge Fund company now holds 227 shares of DAVE which is valued at $1,319.

Famous Dave's of America closed down -0.12 points or -1.99% at $5.92 with 37,323 shares getting traded on Thursday. Post opening the session at $6.02, the shares hit an intraday low of $5.92 and an intraday high of $6.12 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Famous Dave's of America reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 15, 2016. Analyst had a consensus of $0.12. The company had revenue of $28.04 million for the quarter, compared to analysts expectations of $28.70 million. The company’s revenue was down -14.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 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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