Fiesta Restaurant Group, Inc. (FRGI) Director Brian P. Friedman Buys 290,000 Shares
Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Director Brian P. Friedman acquired 290,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $16.06 per share, with a total value of $4,657,400.00. Following the completion of the acquisition, the director now owns 2,152,565 shares in the company, valued at approximately $34,570,193.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Fiesta Restaurant Group, Inc. (FRGI) opened at 16.40 on Tuesday. Fiesta Restaurant Group, Inc. has a one year low of $15.50 and a one year high of $30.65. The company’s market capitalization is $440.09 million. The firm has a 50-day moving average of $17.60 and a 200 day moving average of $20.96.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.03. The firm had revenue of $172.62 million for the quarter, compared to analysts’ expectations of $178.19 million. Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. Fiesta Restaurant Group’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. On average, equities analysts forecast that Fiesta Restaurant Group, Inc. will post $1.02 EPS for the current fiscal year.
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Several research analysts recently commented on the stock. BidaskClub downgraded shares of Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. TheStreet downgraded shares of Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $17.00 price objective (down from $22.00) on shares of Fiesta Restaurant Group in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Fiesta Restaurant Group in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.33.
Several large investors have recently bought and sold shares of FRGI. Leucadia National Corp purchased a new stake in Fiesta Restaurant Group in the 1st quarter worth $24,369,000. Wasatch Advisors Inc. increased its holdings in Fiesta Restaurant Group by 11.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,572,879 shares of the restaurant operator’s stock worth $73,780,000 after acquiring an additional 368,346 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Fiesta Restaurant Group by 32.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,449,051 shares of the restaurant operator’s stock worth $29,923,000 after acquiring an additional 354,351 shares in the last quarter. Bandera Partners LLC increased its holdings in Fiesta Restaurant Group by 437.2% in the 1st quarter. Bandera Partners LLC now owns 397,239 shares of the restaurant operator’s stock worth $9,613,000 after acquiring an additional 323,299 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new stake in Fiesta Restaurant Group in the 1st quarter worth $5,830,000. 94.09% of the stock is owned by hedge funds and other institutional investors.
Fiesta Restaurant Group Company Profile
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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