Mark Mednansky (Insider Trades), CEO of Del Frisco’s Restaurant Group Inc. (DFRG), bought 5,000 shares of the company on July 27, 2015. The average price per share was $14.40, for a total transaction of $72,000. Del Frisco’s Restaurant Group is a collection of 47 restaurants that vary from Sullivan’s Steakhouse, a great neighborhood place, to Del Frisco’s Grille, a modern take on a classic bar. DFRG’s market cap is $349.40 million, and P/S ratio is 1.07.
Mednansky bought 23,000 shares of the company in five transactions since July 2012. His first transaction increased about 10% since the purchase. DFRG CFO, Thomas Pennison (Insider Trades), also bought 6,850 shares of the company at an average price of $14.47 per share on July 27, 2015. Additionally, DFRG Director, Ian Carter (Insider Trades) bought 13,750 shares of the company on the same day. The average per share price was $14.49. There have been 10 insider buys totaling 49,600 shares of the company, and 8 insider sells totaling 18,005,667 shares since July 2012. 10% owner of DFRG, John Grayken (Insider Trades), made 5 of the 8 insider sells in 2013. Grayken sold out all his 13,244,667 shares of the company from March to December 2013. The number and frequency of insider buys of the company are inversely related to the month end price. 
For more information about insider transactions with Del Frisco’s Restaurant Group Inc., click here.
Net income for DFRG was $3.7 million, or $0.16 per share in the second quarter of 2015, compared to $4.8 million, or $0.20 per share in the second quarter of the previous year. Revenue increased from $67.4 million in the second quarter of 2014, to $73.8 million in the second quarter of 2015. Mednansky stated, “ The second quarter fell short of [the company’s] expectations,” which he attributed to “choppy sales … across all three brands” and “limited patio use” due to inclement weather. The company will work towards building stronger customer loyalty through “menu enhancements, seasonal offerings and other promotional activities, and more impactful marketing.” The company opened two new Del Frisco’s Grille locations in Texas during the second quarter. Revenue and annual net income for the company increased 16.74% and 17.27% respectively since 2010. 
Three gurus increased their stake in DFRG in the first quarter of 2015. Paul Tudor Jones (Trades, Portfolio) of Tudor Investment Corp. bought 17,996 shares of DFRG for an average price of $20.13 per share. Jones sold out of the company in the previous quarter, selling 13,800 shares for an average price of $22.24. Ron Baron (Trades, Portfolio) of Baron Funds, bought 23,000 shares of DFRG at an average price of $20.13; this added 1.02% to his holding of 2,273,000 shares of the company. Jim Simons (Trades, Portfolio), of Renaissance Technologies LLC also bought 93,000 shares of DFRG in the first quarter of 2015 after selling out in the third quarter of 2014. For more information about guru transactions with Del Frisco’s Restaurant Group Inc., click here.
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