Short Interest in Fiesta Restaurant Group Inc (NASDAQ:FRGI) Expands By 18.0%

Fiesta Restaurant Group Inc (NASDAQ:FRGI) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,726,000 shares, a growth of 18.0% from the June 30th total of 1,463,100 shares. Based on an average daily volume of 277,000 shares, the short-interest ratio is currently 6.2 days. Approximately 6.5% of the shares of the company are short sold.

Several analysts have recently weighed in on the stock. Stephens decreased their target price on shares of Fiesta Restaurant Group from $25.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. ValuEngine upgraded shares of Fiesta Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.00.

In other Fiesta Restaurant Group news, major shareholder Jefferies Financial Group Inc. bought 18,917 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $13.96 per share, for a total transaction of $264,081.32. Following the transaction, the insider now owns 4,427,886 shares in the company, valued at $61,813,288.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 1,132,747 shares of company stock worth $15,649,649 over the last 90 days. Company insiders own 1.40% of the company’s stock.



A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Fiesta Restaurant Group by 3.1% in the second quarter. BlackRock Inc. now owns 3,605,741 shares of the restaurant operator’s stock valued at $47,378,000 after buying an additional 110,102 shares in the last quarter. Private Capital Management LLC raised its stake in shares of Fiesta Restaurant Group by 52.4% in the second quarter. Private Capital Management LLC now owns 1,510,790 shares of the restaurant operator’s stock worth $19,852,000 after acquiring an additional 519,316 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Fiesta Restaurant Group by 35.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 750,558 shares of the restaurant operator’s stock worth $9,863,000 after acquiring an additional 195,978 shares during the last quarter. Birch Run Capital Advisors LP raised its stake in shares of Fiesta Restaurant Group by 16.6% in the second quarter. Birch Run Capital Advisors LP now owns 435,527 shares of the restaurant operator’s stock worth $5,723,000 after acquiring an additional 62,000 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in shares of Fiesta Restaurant Group by 370.5% in the first quarter. Kennedy Capital Management Inc. now owns 432,798 shares of the restaurant operator’s stock worth $5,674,000 after acquiring an additional 340,806 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Shares of Fiesta Restaurant Group stock traded down $0.49 during trading on Wednesday, hitting $10.32. 247,288 shares of the company’s stock traded hands, compared to its average volume of 242,805. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $11.27. Fiesta Restaurant Group has a twelve month low of $8.75 and a twelve month high of $30.35. The firm has a market cap of $296.21 million, a P/E ratio of 17.20 and a beta of -0.07.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $171.40 million during the quarter, compared to analyst estimates of $172.73 million. Fiesta Restaurant Group had a negative net margin of 6.92% and a positive return on equity of 6.32%. Fiesta Restaurant Group’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, research analysts predict that Fiesta Restaurant Group will post 0.59 EPS for the current year.

About Fiesta Restaurant Group

Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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