Fiesta Restaurant Group (FRGI) Downgraded by BidaskClub
BidaskClub lowered shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a hold rating to a sell rating in a report published on Thursday.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Fiesta Restaurant Group from a hold rating to a buy rating and set a $28.00 price target for the company in a report on Tuesday, November 6th. Wedbush reaffirmed an outperform rating and issued a $28.00 price target (down previously from $36.00) on shares of Fiesta Restaurant Group in a report on Tuesday, November 6th. Finally, Piper Jaffray Companies raised shares of Fiesta Restaurant Group from an underweight rating to a neutral rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Fiesta Restaurant Group currently has a consensus rating of Hold and an average price target of $27.00.
Shares of NASDAQ:FRGI opened at $16.51 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 0.29. Fiesta Restaurant Group has a 12 month low of $16.40 and a 12 month high of $30.88. The stock has a market capitalization of $450.01 million, a P/E ratio of 31.75 and a beta of 0.31.
In other news, major shareholder Jefferies Financial Group Inc. acquired 262,710 shares of Fiesta Restaurant Group stock in a transaction that occurred on Thursday, November 8th. The shares were bought at an average cost of $19.33 per share, with a total value of $5,078,184.30. Following the transaction, the insider now directly owns 3,533,288 shares of the company’s stock, valued at approximately $68,298,457.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlueMountain Capital Management LLC purchased a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $1,750,000. Paloma Partners Management Co purchased a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $790,000. Jane Street Group LLC purchased a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $412,000. Dynamic Technology Lab Private Ltd purchased a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $1,172,000. Finally, Renaissance Technologies LLC purchased a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $539,000. 96.49% of the stock is currently owned by institutional investors.
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 citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.
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