There has been some buying insider activity on Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) recently. Director Barry J. Alperin disclosed the purchase of 2,300 shares. The shares were purchased at an average price of $21.17. Alperin now owns $405,744 of the stock per the Form 4 SEC filing. Jack A. Smith, Director disclosed the purchase of 2,000 shares of (FRGI). The shares were bought on May 17th for an average price of $21.69. The Director now owns $920,784 of the stock according to the SEC filing.
Richard C. Stockinger, CEO disclosed the purchase of 6,945 shares of FRGI stock. The shares were bought on March 14th for an average price of $21.60. Stockinger now owns $1,711,476 of the stock according to the SEC filing.
Fiesta Restaurant Group, Inc. (Fiesta), launched on April 27, 2011, 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). The Company operates through the Pollo Tropical and Taco Cabana segments. Its Pollo Tropical restaurants offer a range of Caribbean inspired food. Taco Cabana restaurants offer a selection of Mexican inspired food..
These funds have also shifted positions in (FRGI). Morgan Stanley cut its ownership by selling 27 shares a decrease of 4.8% in the quarter. Morgan Stanley currently owns 531 shares valued at $13,000. The total value of its holdings decreased 23.5%. As of quarter end Tower Research Capital LLC (trc) had acquired 65 shares growing its position 185.7%. The value of the investment in (FRGI) increased from $1,000 to $2,000 increasing 100.0% quarter to quarter.
As of the end of the quarter Goldman Sachs Group Inc had sold a total of 54,276 shares trimming its stake by 46.3%. The value of the total investment in Fiesta Restaurant Group, Inc. went from $3,498,000 to $1,522,000 a change of 56.5% quarter over quarter. Macquarie Group Ltd trimmed its holdings by shedding 204,003 shares a decrease of 33.5% from 12/31/2016 to 03/31/2017. Macquarie Group Ltd now controls 404,156 shares with a value of $9,781,000. The value of the position overall is down by 46.1%.
On August 29 the company was rated “Neutral” according to a PiperJaffray report which is down from the previous “” rating. Canaccord Genuity added FRGI to its research portfolio by announcing an initial rating of “Hold”.
On July 26 the stock rating was downgraded to “Hold” from “Buy” by analysts at Jefferies. On May 10 the company was downgraded from “” to “Outperform” and a price target of $37.50 was set by Sterne Agee CRT.
On May 10 the stock rating was downgraded to “Outperform” from “Strong Buy” with a current price target of $37.50 in a report issued by Raymond James. February 25 investment analysts at Jefferies kept the stock rating at “Buy” and lowered the price target to $50.00 from $57.00.
The company is trading up from yesterday’s close of $21.4. Shares of the company are trading at $21.50 which is marginally under $23.07, the stock’s 50 day moving average and a tad below the 200 day moving average of $25.41. The 50 day moving average was down by -6.80% and the 200 day average went down $-3.91 or -15.38%.
As of the last earnings report the EPS was $-0.31 and is projected to be $1.14 for the current year with 26,787,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.29 and the next full year EPS is projected to be $1.22.
Investors are feeling more bullish on Fiesta Restaurant Group, Inc. lately as implied by the motion in short interest. The company recorded a fall in short interest of -15.69% as of the latest report on May 15, 2017. Short shares fell from 2,354,657 to 1,985,163 over that period. Days to cover decreased from 3.8 to 3.6 and the percentage of shorted shares is 0.07% as of May 15.