Fiesta Restaurant Group Inc. (FRGI) Sees Unusually-High Trading Volume
Fiesta Restaurant Group Inc. (NASDAQ:FRGI) shares saw unusually-strong trading volume on Thursday . Approximately 2,298,919 shares traded hands during trading, an increase of 158% from the previous session’s volume of 892,368 shares.The stock last traded at $22.67 and had previously closed at $21.93.
A number of equities research analysts have recently issued reports on FRGI shares. Wedbush reiterated an “outperform” rating and set a $47.00 price target (down from $53.00) on shares of Fiesta Restaurant Group in a research report on Monday, April 18th. Raymond James Financial Inc. downgraded Fiesta Restaurant Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $45.00 to $37.50 in a research report on Tuesday, May 10th. Sterne Agee CRT downgraded Fiesta Restaurant Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 10th. Piper Jaffray Cos. restated an “overweight” rating and set a $36.00 price objective (down from $45.00) on shares of Fiesta Restaurant Group in a research report on Tuesday, May 10th. Finally, Jefferies Group restated a “buy” rating on shares of Fiesta Restaurant Group in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.36.
The firm’s 50-day moving average is $23.22 and its 200 day moving average is $29.99. The firm has a market capitalization of $605.57 million and a P/E ratio of 16.09.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.06. During the same quarter in the previous year, the firm earned $0.42 EPS. The company had revenue of $181.50 million for the quarter, compared to analyst estimates of $183.55 million. The company’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Fiesta Restaurant Group Inc. will post $1.33 earnings per share for the current fiscal year.
In related news, COO Danny K. Meisenheimer purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average cost of $26.31 per share, for a total transaction of $78,930.00. Following the transaction, the chief operating officer now directly owns 24,014 shares of the company’s stock, valued at approximately $631,808.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $101,120.00. Following the completion of the sale, the director now owns 11,709 shares in the company, valued at $296,003.52. The disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in 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 valued at $4,257,000 after buying an additional 98,923 shares in the last quarter. California State Teachers Retirement System raised its stake in 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 valued at $1,670,000 after buying an additional 800 shares in the last quarter. UBS Oconnor LLC bought a new stake in Fiesta Restaurant Group during the fourth quarter valued at about $2,016,000. Finally, Marshall Wace LLP bought a new stake in Fiesta Restaurant Group during the fourth quarter valued at about $7,098,000.
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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