Fred Alger Management LLC Boosts Stock Holdings in Kura Sushi USA, Inc. (NASDAQ:KRUS)

Fred Alger Management LLC increased its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 24.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 505,600 shares of the company's stock after acquiring an additional 99,515 shares during the quarter. Fred Alger Management LLC owned 4.50% of Kura Sushi USA worth $40,731,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KRUS. Comerica Bank increased its stake in Kura Sushi USA by 58.6% in the first quarter. Comerica Bank now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 99 shares in the last quarter. Quest Partners LLC increased its position in Kura Sushi USA by 237.9% in the 3rd quarter. Quest Partners LLC now owns 669 shares of the company's stock valued at $54,000 after buying an additional 471 shares in the last quarter. Versor Investments LP acquired a new position in Kura Sushi USA during the 2nd quarter worth approximately $233,000. Moody National Bank Trust Division bought a new position in Kura Sushi USA in the second quarter worth approximately $365,000. Finally, Virtu Financial LLC acquired a new stake in Kura Sushi USA in the first quarter valued at approximately $370,000. Institutional investors and hedge funds own 65.49% of the company's stock.

Kura Sushi USA Trading Up 1.2 %

Shares of KRUS traded up $1.22 during trading hours on Friday, reaching $106.92. 70,589 shares of the stock traded hands, compared to its average volume of 162,592. Kura Sushi USA, Inc. has a 52 week low of $48.66 and a 52 week high of $122.81. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -137.08 and a beta of 1.86. The stock has a fifty day simple moving average of $90.96 and a 200 day simple moving average of $79.17.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KRUS. Craig Hallum upped their target price on Kura Sushi USA from $85.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Barclays boosted their price target on shares of Kura Sushi USA from $70.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on shares of Kura Sushi USA from $63.00 to $98.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Northcoast Research assumed coverage on shares of Kura Sushi USA in a research report on Tuesday, September 10th. They set a "buy" rating and a $79.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.88.

About Kura Sushi USA