Fiesta Restaurant Group Inc (NASDAQ:FRGI)’s share price was up 2.5% during trading on Monday following insider buying activity. The company traded as high as $18.40 and last traded at $17.69. Approximately 183,831 shares changed hands during trading, a decline of 58% from the average daily volume of 439,988 shares. The stock had previously closed at $18.15.

Specifically, Director Brian P. Friedman purchased 51,710 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of $17.36 per share, with a total value of $897,685.60. Following the purchase, the director now owns 36,270 shares in the company, valued at $629,647.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian P. Friedman purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $18.71 per share, for a total transaction of $1,122,600.00. Following the completion of the purchase, the director now owns 36,270 shares in the company, valued at approximately $678,611.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,271,375 shares of company stock worth $22,323,743. 2.20% of the stock is owned by company insiders.

Several analysts have recently commented on the company. Wedbush reissued a “buy” rating on shares of Fiesta Restaurant Group in a research note on Monday. TheStreet downgraded Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a research note on Thursday, September 7th. Piper Jaffray Companies downgraded Fiesta Restaurant Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $17.00 to $14.00 in a research note on Thursday, September 7th. Zacks Investment Research downgraded Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Fiesta Restaurant Group in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Fiesta Restaurant Group currently has a consensus rating of “Hold” and an average price target of $24.33.

The company has a 50 day moving average of $17.56 and a 200 day moving average of $20.72. The company’s market capitalization is $461.56 million.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings data on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Fiesta Restaurant Group had a negative return on equity of 3.48% and a negative net margin of 1.25%. The firm had revenue of $172.62 million during the quarter, compared to analysts’ expectations of $178.19 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Fiesta Restaurant Group’s revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Fiesta Restaurant Group Inc will post $1.02 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in Fiesta Restaurant Group by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 2,376 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Fiesta Restaurant Group by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock worth $152,000 after acquiring an additional 450 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Fiesta Restaurant Group by 5.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock worth $131,000 after acquiring an additional 310 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Fiesta Restaurant Group by 61.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock worth $211,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Fiesta Restaurant Group in the 2nd quarter worth approximately $217,000. Institutional investors own 94.00% of the company’s stock.

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About Fiesta Restaurant Group

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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