Kura Sushi USA, Inc. (NASDAQ:KRUS) Stake Reduced by Fred Alger Management LLC

Fred Alger Management LLC trimmed its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 24.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 383,181 shares of the company’s stock after selling 122,419 shares during the quarter. Fred Alger Management LLC’s holdings in Kura Sushi USA were worth $34,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KRUS. Arcadia Investment Management Corp MI acquired a new stake in shares of Kura Sushi USA in the 4th quarter worth about $31,000. Quantbot Technologies LP bought a new stake in shares of Kura Sushi USA during the fourth quarter valued at approximately $61,000. BNP Paribas Financial Markets bought a new position in Kura Sushi USA in the 4th quarter worth approximately $77,000. KLP Kapitalforvaltning AS acquired a new stake in Kura Sushi USA in the 4th quarter valued at approximately $109,000. Finally, US Bancorp DE increased its position in Kura Sushi USA by 43.5% in the 4th quarter. US Bancorp DE now owns 1,805 shares of the company’s stock valued at $163,000 after acquiring an additional 547 shares during the period. Institutional investors and hedge funds own 65.49% of the company’s stock.

Kura Sushi USA Stock Down 0.8 %

KRUS opened at $60.60 on Thursday. The business has a fifty day simple moving average of $55.16 and a 200-day simple moving average of $77.18. The firm has a market cap of $732.33 million, a PE ratio of -89.11 and a beta of 1.55. Kura Sushi USA, Inc. has a fifty-two week low of $40.03 and a fifty-two week high of $121.99.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. The company had revenue of $64.89 million during the quarter, compared to analyst estimates of $66.30 million. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, equities research analysts anticipate that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Kura Sushi USA in a report on Wednesday, April 9th. Barclays lowered their target price on shares of Kura Sushi USA from $75.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their price target on shares of Kura Sushi USA from $71.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. TD Cowen initiated coverage on shares of Kura Sushi USA in a research note on Tuesday, February 25th. They set a “hold” rating and a $72.00 price objective on the stock. Finally, Benchmark cut their target price on Kura Sushi USA from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.20.

Kura Sushi USA Profile