Fiesta Restaurant Group Inc. (NASDAQ:FRGI) was down 7.6% on Tuesday . The stock traded as low as $22.46 and last traded at $22.98, with a volume of 762,703 shares trading hands. The stock had previously closed at $24.87.

Several equities research analysts have recently weighed in on FRGI shares. Sterne Agee CRT cut Fiesta Restaurant Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 10th. Zacks Investment Research cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Stephens reaffirmed a “buy” rating on shares of Fiesta Restaurant Group in a research note on Tuesday, May 10th. Jefferies Group cut Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $36.00 target price (down previously from $45.00) on shares of Fiesta Restaurant Group in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Fiesta Restaurant Group currently has an average rating of “Hold” and an average price target of $44.21.

The stock has a 50-day moving average of $23.62 and a 200 day moving average of $30.68. The stock has a market cap of $616.22 million and a price-to-earnings ratio of 16.38.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, May 9th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by $0.03. The company earned $176.70 million during the quarter, compared to analysts’ expectations of $176.80 million. Fiesta Restaurant Group’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts expect that Fiesta Restaurant Group Inc. will post $1.49 EPS for the current year.

In related news, SVP Joseph A. Zirkman sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $24.50, for a total value of $73,500.00. Following the completion of the transaction, the senior vice president now directly owns 124,423 shares of the company’s stock, valued at $3,048,363.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Daraviras sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $25.28, for a total value of $101,120.00. Following the completion of the transaction, the director now directly owns 11,709 shares of the company’s stock, valued at $296,003.52. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Fiesta Restaurant Group by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,192,594 shares of the company’s stock worth $140,872,000 after buying an additional 231,616 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Fiesta Restaurant Group during the fourth quarter worth about $7,098,000. New York State Common Retirement Fund boosted its position in shares of Fiesta Restaurant Group by 356.3% in the fourth quarter. New York State Common Retirement Fund now owns 126,690 shares of the company’s stock worth $4,257,000 after buying an additional 98,923 shares during the last quarter. UBS Oconnor LLC bought a new position in shares of Fiesta Restaurant Group during the fourth quarter worth about $2,016,000. Finally, California State Teachers Retirement System boosted its position in shares of Fiesta Restaurant Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 49,689 shares of the company’s stock worth $1,670,000 after buying an additional 800 shares during the last quarter.

Fiesta Restaurant Group, Inc (Fiesta) owns, operates and franchises approximately two fast-casual restaurant brands, Pollo Tropical and Taco Cabana. The Company operates through the Pollo Tropical and Taco Cabana segments. Its Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food.

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