Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) shares hit a new 52-week low during trading on Monday . The stock traded as low as $16.80 and last traded at $16.80, with a volume of 153,037 shares trading hands. The stock had previously closed at $17.30.
Several research analysts have commented on the stock. Piper Jaffray Companies restated a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Fiesta Restaurant Group in a research report on Thursday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Fiesta Restaurant Group in a research report on Monday, July 24th. Stephens downgraded shares of Fiesta Restaurant Group from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 target price on shares of Fiesta Restaurant Group in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of Fiesta Restaurant Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.83.
The firm has a 50 day moving average of $18.70 and a 200 day moving average of $22.42. The firm’s market cap is $501.81 million.
Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $172.62 million for the quarter, compared to the consensus estimate of $178.19 million. Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. Equities analysts forecast that Fiesta Restaurant Group, Inc. will post $1.03 EPS for the current year.
In other news, Director Brian P. Friedman bought 60,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $18.71 per share, with a total value of $1,122,600.00. Following the completion of the acquisition, the director now owns 36,270 shares of the company’s stock, valued at $678,611.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Friedman bought 28,093 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $21.65 per share, with a total value of $608,213.45. Following the completion of the acquisition, the director now directly owns 32,681 shares of the company’s stock, valued at approximately $707,543.65. The disclosure for this purchase can be found here. Insiders acquired 560,508 shares of company stock valued at $11,339,943 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Fiesta Restaurant Group by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after buying an additional 2,376 shares during the period. Mason Street Advisors LLC increased its stake in Fiesta Restaurant Group by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock worth $152,000 after buying an additional 450 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Fiesta Restaurant Group by 5.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock worth $131,000 after buying an additional 310 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Fiesta Restaurant Group during the fourth quarter worth about $225,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Fiesta Restaurant Group during the first quarter worth about $202,000. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
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Fiesta Restaurant Group Company Profile
Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).
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