Ruby Tuesday, Inc. (NYSE:RT)’s Concept President and Chief Operating Officer, Todd Burrowes, sold 12,200 of his company shares, directly, yesterday. The stock was sold at a price of $7.34 per share and after the transaction Burrowes still holds 173,916 Ruby Tuesday shares to his name.
The COO’s sale is the first to be executed this year, as 2014 showed large stock purchases on behalf of company Director Donald Hess and Chief Executive Officer James Buettgen, both of whom acquired 50,000 shares of the restaurant operator in April and January of 2014.
And although Ruby Tuesday has been in the headlines recently, due to a pending lawsuit, this doesn’t seem to have affected hedge funds shareholder position in the firm. As such, Chuck Royce’s Royce & Associates holds the strongest hedge fund position, with over 1.5 million company shares, worth almost $9 million. This quarter also showed new hedge fund positions at Ruby Tuesday, like Alexander Mitchell’s Scopus Asset Management, which newly acquired 400,000 shares, at a value of $2.2 million.