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Latest RUTH News From Around the Web
Below are the latest news stories about Ruths Hospitality Group Inc that investors may wish to consider to help them evaluate RUTH as an investment opportunity.
Shares of Ruth's Hospitality Group (NASDAQ: RUTH) were heading lower today after the fine-dining company announced a secondary stock offering that would dilute shareholders. The parent of Ruth's Chris Steak House said that it would sell $43.5 million in common stock to Jefferies, which would in turn sell it to the general public. Jefferies also has the right to purchase an additional $6.525 million in shares.
Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH) (the "Company"), one of the largest upscale steakhouse companies in the world, today announced that Jefferies LLC ("Jefferies") has agreed to purchase $43,500,000 of the Company’s common stock (the "Shares"), to be reoffered by Jefferies at variable prices. In addition, the Company has granted Jefferies an option, exercisable for up to 30 days, to purchase up to an aggregate of an additional $6,525,000 of Shares.
Small businesses weigh their future, as economies begin to reopen. The economic pressures are magnified for small businesses, which account for 50% of total employment in the U.S. A recent study by Deutsche Bank found that one quarter of small businesses only had enough cash on hand to operate for one to two more months, while 7% said they had no liquidity.
As deadline passes for returning small-business loans, public companies have given back $500 million and kept $900 million
The Treasury Department says Paycheck Protection Program loans are not meant for “a public company with substantial market value and access to capital markets” and given big borrowers a May 18 deadline. Here’s how the returns are going.
Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of -65.38% and -3.18%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
13 Public Companies Agree To Return $170 Million In Small Business Coronavirus Stimulus; Others Are Keeping It
13 Public Companies Agree To Return $170 Million In Small Business Coronavirus Stimulus; Others Are Keeping It At least 13 public companies have agreed to return coronavirus funds meant for small businesses after controversy erupted when the $349 billion Paycheck Protection Program (PPP) ran out of funds, leaving many struggling business owners unable to make ends meet. According to the Wall Street Journal , one such company returning funds AutoNation , the country's largest car-dealership chain which said they would return a cumulative $77 million in forgivable loans. Other companies returning funds include Ruth's Hospitality Group, Shake Shack, and pharmaceutical manufacturer OptiNose , Inc. - which will return $4.4 million. Restaurant owner J. Alexander Holdings will return $15.1 mil...
The owner of the Ruth's Chris Steak House has said it will repay $20 million in federal loans after facing backlash for its access to the money, which was meant to aid small businesses. It's possible that Ruth's needed the funding, as restaurants face declining revenues with dining rooms closed across the US. But the company has also enjoyed several years of profits. Last year, Ruth's earned a profit of $42 million on revenue of $468 million. In turn, the company last year spent about $42 million on share repurchases and paying out dividends. Visit Business Insider's homepage for more stories . Ruth's Hospitality Group Inc, the owner of the Ruth's Chris Steak House chain of restaurants, said last week it would quickly repay $20 million in federal loans after backlash against the company...
A new study shows over 100 public companies got $550 million of federal loans intended for 'small businesses'
A report by S&P Global Market Intelligence found that 134 publicly traded companies got access to $550.6 million of loans available to "small businesses" via the federal stimulus package. Ashford Hospitality Trust claimed the largest Paycheck Protection Program (PPP) loan, of $30.1 million, followed by Meritage Hospitality Group, which claimed $29.1 million. The PPP program's $349 billion of aid for small businesses was exhausted by April 16, less than two weeks after it was rolled out. Visit Business Insider's homepage for more stories . A new report released by S&P Global Market Intelligence found that 134 publicly traded companies got access to $550.6 million of federal stimulus loans for small business. The report noted that Sen. Marco Rubio responded with a statement that his congr...
American restaurant chain Ruth's Chris Steak House will return a $20m small business loan following growing backlash over a federal coronavirus bailout that has benefited several large companies. Ruth's Hospitality Group, which runs more than 100 steakhouses in the US, procured two $10m loans for its subsidiaries through the Paycheck Protection Program, which is intended to
Ruth's Hospitality Group Inc, owner of the Ruth's Chris Steak House chain of restaurants, on Thursday said it would quickly repay US$20 million of …