Waitr (NASDAQ:WTRH) Stock Price Up 8.1%

Waitr Holdings Inc (NASDAQ:WTRH) rose 8.1% on Thursday . The stock traded as high as $2.04 and last traded at $2.00, approximately 3,303,678 shares changed hands during mid-day trading. An increase of 232% from the average daily volume of 994,540 shares. The stock had previously closed at $1.85.

WTRH has been the topic of several research analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $5.00 price objective (down from $20.00) on shares of Waitr in a research note on Friday, August 9th. They noted that the move was a valuation call. Piper Jaffray Companies lowered Waitr from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $4.00 in a research note on Friday, August 9th. Royal Bank of Canada set a $5.00 price target on Waitr and gave the stock a “buy” rating in a research report on Friday, August 9th. Benchmark reduced their price target on Waitr from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Zacks Investment Research raised Waitr from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Saturday, August 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $7.31.

The firm has a 50-day moving average of $4.06 and a 200 day moving average of $8.34. The stock has a market capitalization of $141.87 million and a price-to-earnings ratio of -0.86. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.45.

In related news, Director Tilman J. Fertitta purchased 1,000,000 shares of Waitr stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $1.43 per share, with a total value of $1,430,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joseph Stough purchased 45,000 shares of Waitr stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $1.47 per share, for a total transaction of $66,150.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,094,000 shares of company stock worth $1,567,050 over the last three months. 23.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in WTRH. O Shaughnessy Asset Management LLC increased its holdings in Waitr by 821.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,322 shares of the company’s stock worth $29,000 after purchasing an additional 2,070 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Waitr during the 2nd quarter worth approximately $26,000. Sanders Morris Harris LLC purchased a new stake in Waitr during the 2nd quarter worth approximately $63,000. Hayden Royal LLC purchased a new stake in Waitr during the 2nd quarter worth approximately $63,000. Finally, Virtu Financial LLC purchased a new stake in Waitr during the 1st quarter worth approximately $153,000. 52.49% of the stock is currently owned by hedge funds and other institutional investors.

Waitr Company Profile (NASDAQ:WTRH)

Waitr Holdings Inc provides online food ordering and delivery services in the Southeastern United States. Its Waitr Platform and Bite Squad Platform facilitates ordering of food and beverages by diners from restaurant partners for pick-up and delivery through a network of drivers. As of December 31, 2018, the company had approximately 8,500 restaurant partners in 250 cities.

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