Fiesta Restaurant Group, Inc. (FRGI) Director Acquires $897,685.60 in Stock
Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Director Brian P. Friedman bought 51,710 shares of the stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $897,685.60. Following the completion of the acquisition, the director now directly owns 36,270 shares of the company’s stock, valued at approximately $629,647.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) traded up 7.08% during mid-day trading on Friday, hitting $18.15. 728,276 shares of the company traded hands. The firm has a 50 day moving average of $17.54 and a 200 day moving average of $20.75. The firm’s market capitalization is $487.06 million. Fiesta Restaurant Group, Inc. has a one year low of $15.50 and a one year high of $30.65.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. The business had revenue of $172.62 million during the quarter, compared to the consensus estimate of $178.19 million. During the same period last year, the firm earned $0.34 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts expect that Fiesta Restaurant Group, Inc. will post $1.02 earnings per share for the current fiscal year.
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Several brokerages have recently commented on FRGI. TheStreet cut shares of Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Fiesta Restaurant Group in a report on Monday, July 24th. BidaskClub cut shares of Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Zacks Investment Research cut shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Piper Jaffray Companies cut shares of Fiesta Restaurant Group from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $14.00 in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Fiesta Restaurant Group has a consensus rating of “Hold” and a consensus target price of $24.33.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Fiesta Restaurant Group by 1.7% during the 1st quarter. Legal & General Group Plc now owns 46,910 shares of the restaurant operator’s stock worth $1,134,000 after acquiring an additional 762 shares during the period. Ameriprise Financial Inc. increased its holdings in Fiesta Restaurant Group by 4.2% during the 1st quarter. Ameriprise Financial Inc. now owns 141,566 shares of the restaurant operator’s stock worth $3,426,000 after acquiring an additional 5,711 shares during the period. Point72 Europe London LLP bought a new stake in Fiesta Restaurant Group during the 1st quarter worth approximately $5,830,000. Chartwell Investment Partners LLC increased its holdings in Fiesta Restaurant Group by 58.7% during the 1st quarter. Chartwell Investment Partners LLC now owns 175,458 shares of the restaurant operator’s stock worth $4,246,000 after acquiring an additional 64,933 shares during the period. Finally, TD Asset Management Inc. bought a new stake in Fiesta Restaurant Group during the 1st quarter worth approximately $335,000. 94.09% of the stock is currently owned by institutional investors and hedge funds.
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).
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