Texas Roadhouse (TXRH) has received an investment from privately held BlackBird Financial, which said Tuesday it has acquired a "meaningful stake" in the restaurant chain.
Terms of the investment were not disclosed.
In a statement, BlackBird founder Judah Spinner said the market is "currently underestimating" the long-term potential of Texas Roadhouse.
"We actively seek out businesses that possess structural advantages and the necessary discipline to reinvest capital at high rates of return," Spinner said.
Texas Roadhouse shares were 0.8% higher in recent trading.
Price: 163.04, Change: +1.29, Percent Change: +0.80
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