Stoneridge Investment Partners LLC Increases Stake in Fiesta Restaurant Group, Inc. (NASDAQ:FRGI)

Stoneridge Investment Partners LLC raised its position in shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) by 102.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,893 shares of the restaurant operator’s stock after buying an additional 8,529 shares during the period. Stoneridge Investment Partners LLC owned about 0.06% of Fiesta Restaurant Group worth $349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of 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 worth $110,000 after buying an additional 2,376 shares in the last quarter. Mason Street Advisors LLC increased its position 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 in the last quarter. Municipal Employees Retirement System of Michigan increased its position 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 in the last quarter. Guggenheim Capital LLC acquired a new position in Fiesta Restaurant Group during the fourth quarter worth about $225,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in Fiesta Restaurant Group by 6.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,220 shares of the restaurant operator’s stock worth $223,000 after buying an additional 560 shares in the last quarter. Institutional investors own 93.58% of the company’s stock.

Fiesta Restaurant Group, Inc. (NASDAQ FRGI) opened at 18.70 on Friday. 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, Inc. has a 12 month low of $15.60 and a 12 month high of $30.65.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings data on Monday, August 7th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Fiesta Restaurant Group had a positive return on equity of 11.77% and a negative net margin of 2.75%. The business had revenue of $172.62 million for the quarter, compared to analysts’ expectations of $178.19 million. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Fiesta Restaurant Group, Inc. will post $1.03 earnings per share for the current year.

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A number of research firms recently issued reports on FRGI. Piper Jaffray Companies restated a “neutral” rating and set a $17.00 target price (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 target price for the company. in a research report on Tuesday, May 9th. Jefferies Group LLC restated a “hold” rating and set a $25.00 target price on shares of Fiesta Restaurant Group in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded shares of Fiesta Restaurant Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $24.83.

In other Fiesta Restaurant Group news, Director Brian P. Friedman acquired 28,093 shares of the stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $21.65 per share, with a total value of $608,213.45. Following the transaction, the director now owns 32,681 shares of the company’s stock, valued at approximately $707,543.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian P. Friedman acquired 309,115 shares of the stock in a transaction on Friday, June 9th. The shares were acquired at an average cost of $21.12 per share, for a total transaction of $6,528,508.80. Following the completion of the transaction, the director now directly owns 36,270 shares in the company, valued at approximately $766,022.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 560,508 shares of company stock worth $11,339,943 over the last three months. 2.20% of the stock is currently owned by insiders.

About Fiesta Restaurant Group

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).

Institutional Ownership by Quarter for Fiesta Restaurant Group (NASDAQ:FRGI)

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