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Landry's Continues Its Acquisition Strategy In Steakhouses

|Includes:Ruth's Hospitality Group, Inc. (RUTH)

Smaller, faster growing chain than RUTH and much higher average check ($135!!!), but shows his continued interest in the space.

11X EV/EBTIDA for the deal is very full price..

Would love RUTH to go for that, but highly unlikely.

http://nrn.com/finance/landrys-buys-mastros-restaurants?NL=NRN-02_&Issue=NRN-02__20130605_NRN-02__615&YM_RID=heitman.timothy@gmail.com&YM_MID=1397639&sfvc4enews=42

Disclosure: I am long RUTH.

Stocks: RUTH