Tygh Capital Management Inc. Invests $1.88 Million in Carrols Restaurant Group, Inc. (TAST)

Tygh Capital Management Inc. acquired a new stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 153,796 shares of the restaurant operator’s stock, valued at approximately $1,884,000. Tygh Capital Management Inc. owned 0.43% of Carrols Restaurant Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Carrols Restaurant Group by 27.5% in the second quarter. Victory Capital Management Inc. now owns 155,966 shares of the restaurant operator’s stock valued at $1,911,000 after buying an additional 33,630 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Carrols Restaurant Group during the second quarter worth $686,000. BNP Paribas Arbitrage SA raised its stake in Carrols Restaurant Group by 179.1% in the second quarter. BNP Paribas Arbitrage SA now owns 8,547 shares of the restaurant operator’s stock worth $105,000 after buying an additional 5,485 shares during the period. Bank of New York Mellon Corp raised its stake in Carrols Restaurant Group by 11.2% in the second quarter. Bank of New York Mellon Corp now owns 184,680 shares of the restaurant operator’s stock worth $2,262,000 after buying an additional 18,611 shares during the period. Finally, Rhumbline Advisers raised its stake in Carrols Restaurant Group by 9.8% in the second quarter. Rhumbline Advisers now owns 41,717 shares of the restaurant operator’s stock worth $511,000 after buying an additional 3,710 shares during the period. 85.00% of the stock is owned by institutional investors.

Carrols Restaurant Group, Inc. (TAST) opened at 11.05 on Friday. The stock’s 50 day moving average price is $11.89 and its 200 day moving average price is $13.29. The company has a market capitalization of $391.47 million, a P/E ratio of 14.77 and a beta of 0.02. Carrols Restaurant Group, Inc. has a one year low of $9.60 and a one year high of $17.55.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Wednesday, August 9th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.05. Carrols Restaurant Group had a net margin of 3.44% and a return on equity of 6.33%. The company had revenue of $279.48 million during the quarter, compared to analysts’ expectations of $274.90 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts anticipate that Carrols Restaurant Group, Inc. will post $0.21 EPS for the current fiscal year.

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A number of analysts have recently weighed in on TAST shares. ValuEngine lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Dougherty & Co decreased their price objective on Carrols Restaurant Group from $18.50 to $15.50 and set a “buy” rating for the company in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $17.50 price objective on shares of Carrols Restaurant Group in a report on Monday, July 24th.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.