Paloma Partners Management Co reduced its position in shares of Fiesta Restaurant Group Inc (NASDAQ:FRGI) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,212 shares of the restaurant operator’s stock after selling 15,329 shares during the period. Paloma Partners Management Co owned about 0.25% of Fiesta Restaurant Group worth $1,296,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virginia Retirement Systems ET AL lifted its position in shares of Fiesta Restaurant Group by 203.3% during the third quarter. Virginia Retirement Systems ET AL now owns 64,900 shares of the restaurant operator’s stock worth $1,233,000 after purchasing an additional 43,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fiesta Restaurant Group by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,520,565 shares of the restaurant operator’s stock worth $28,891,000 after purchasing an additional 71,514 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Fiesta Restaurant Group during the third quarter worth $270,000. KBC Group NV lifted its position in shares of Fiesta Restaurant Group by 89.8% during the third quarter. KBC Group NV now owns 41,538 shares of the restaurant operator’s stock worth $789,000 after purchasing an additional 19,651 shares in the last quarter. Finally, Newtyn Management LLC acquired a new position in shares of Fiesta Restaurant Group during the third quarter worth $19,000,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fiesta Restaurant Group Inc (NASDAQ:FRGI) opened at $18.65 on Friday. The stock has a market cap of $489.04, a price-to-earnings ratio of -13.81, a P/E/G ratio of 2.18 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 0.33. Fiesta Restaurant Group Inc has a twelve month low of $15.50 and a twelve month high of $25.35.
Fiesta Restaurant Group announced that its board has initiated a stock repurchase plan on Monday, February 26th that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Jack A. Smith purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $17.04 per share, with a total value of $51,120.00. Following the completion of the acquisition, the director now directly owns 52,041 shares of the company’s stock, valued at approximately $886,778.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder National Corp Leucadia purchased 176,814 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost of $16.59 per share, for a total transaction of $2,933,344.26. Following the completion of the acquisition, the insider now directly owns 3,075,383 shares of the company’s stock, valued at $51,020,603.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 186,814 shares of company stock worth $3,113,194 and sold 941 shares worth $17,673. Corporate insiders own 2.20% of the company’s stock.
A number of research analysts have recently commented on the stock. BidaskClub cut shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, March 10th. Finally, Wedbush reaffirmed a “buy” rating and issued a $24.00 price target on shares of Fiesta Restaurant Group in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Fiesta Restaurant Group currently has a consensus rating of “Hold” and a consensus target price of $22.60.
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Fiesta Restaurant Group Profile
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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