BlueMountain Capital Management LLC Boosts Holdings in Carrols Restaurant Group, Inc. (TAST)

BlueMountain Capital Management LLC boosted its position in shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) by 256.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,704 shares of the restaurant operator’s stock after buying an additional 53,017 shares during the period. BlueMountain Capital Management LLC owned 0.20% of Carrols Restaurant Group worth $1,095,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Carrols Restaurant Group by 13.7% in the second quarter. BlackRock Inc. now owns 2,900,341 shares of the restaurant operator’s stock valued at $43,069,000 after purchasing an additional 349,514 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Carrols Restaurant Group by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,357,716 shares of the restaurant operator’s stock valued at $35,012,000 after purchasing an additional 49,309 shares in the last quarter. Millennium Management LLC grew its position in shares of Carrols Restaurant Group by 42.4% in the first quarter. Millennium Management LLC now owns 1,402,472 shares of the restaurant operator’s stock valued at $15,708,000 after purchasing an additional 417,911 shares in the last quarter. FMR LLC grew its position in shares of Carrols Restaurant Group by 30.4% in the second quarter. FMR LLC now owns 1,036,096 shares of the restaurant operator’s stock valued at $15,386,000 after purchasing an additional 241,400 shares in the last quarter. Finally, Royce & Associates LP grew its position in shares of Carrols Restaurant Group by 15.4% in the second quarter. Royce & Associates LP now owns 913,431 shares of the restaurant operator’s stock valued at $13,564,000 after purchasing an additional 121,700 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

TAST opened at $14.80 on Friday. Carrols Restaurant Group, Inc. has a one year low of $9.90 and a one year high of $16.40. The company has a market capitalization of $559.04 million, a P/E ratio of 74.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.30. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings data on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Carrols Restaurant Group had a return on equity of 8.53% and a net margin of 1.00%. The firm had revenue of $303.05 million for the quarter, compared to analysts’ expectations of $301.21 million. analysts anticipate that Carrols Restaurant Group, Inc. will post 0.36 EPS for the current year.

In related news, VP William E. Myers sold 18,300 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $15.57, for a total value of $284,931.00. Following the transaction, the vice president now directly owns 87,273 shares in the company, valued at $1,358,840.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul R. Flanders sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $16.27, for a total value of $122,025.00. Following the completion of the transaction, the chief financial officer now owns 305,811 shares in the company, valued at $4,975,544.97. The disclosure for this sale can be found here. Insiders sold 63,439 shares of company stock worth $1,000,769 over the last quarter. 4.60% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on TAST. BidaskClub lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, August 10th. Citigroup upped their price objective on Carrols Restaurant Group from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 25th. Finally, SunTrust Banks started coverage on Carrols Restaurant Group in a report on Wednesday, May 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Carrols Restaurant Group currently has an average rating of “Buy” and a consensus price target of $17.63.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United States. The company was founded in 1960 and is headquartered in Syracuse, New York.

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Institutional Ownership by Quarter for Carrols Restaurant Group (NASDAQ:TAST)

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