Bakay Berke Just Picked Up Kona Grill Inc (NASDAQ:KONA) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Kona Grill Inc (NASDAQ:KONA) reported that Bakay Berke has picked up 1,280,000 of common stock as of 2017-05-22.

The acquisition brings the aggregate amount owned by Bakay Berke to a total of 1,280,000 representing less than 12.7% stake in the company.

For those not familiar with the company, Kona Grill, Inc. owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi. Its menu items are prepared from scratch at each restaurant location and incorporate over 40 signature sauces and dressings. It also offers a full service bar offering a range assortment of wines, specialty cocktails and beers. Its restaurants seat an average of approximately 290 customers and comprise multiple dining areas. Its dining area, full-service bar, indoor/outdoor patio and sushi bar provide a choice of atmospheres and a range of environments. It locates its restaurants in various areas, such as retail centers, shopping malls, urban entertainment districts and lifestyle centers that are situated near commercial office space and residential housing.

A glance at Kona Grill Inc (NASDAQ:KONA) key stats reveals a current market capitalization of 40.92 Million based on 10.10 Million shares outstanding and a price at last close of $4.10 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-17, Newman picked up 500 at a purchase price of $4.50. This brings their total holding to 1,000 as of the date of the filing.

On the sell side, the most recent transaction saw Hauser unload 6,514 shares at a sale price of $26.57. This brings their total holding to 386,893.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Kona Grill Inc (NASDAQ:KONA) as things move forward to see if its progress aligns with these transactions.

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