Insider Selling: Carrols Restaurant Group, Inc. (TAST) CEO Sells $653,000.00 in Stock

Carrols Restaurant Group, Inc. (NASDAQ:TAST) CEO Daniel T. Accordino sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $13.06, for a total transaction of $653,000.00. Following the transaction, the chief executive officer now directly owns 1,147,860 shares of the company’s stock, valued at approximately $14,991,051.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of Carrols Restaurant Group, Inc. (NASDAQ TAST) opened at $12.65 on Thursday. The stock has a market cap of $470.06, a P/E ratio of 108.33, a P/E/G ratio of 4.88 and a beta of 0.18. Carrols Restaurant Group, Inc. has a 1 year low of $9.90 and a 1 year high of $17.55. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.79.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). The business had revenue of $258.24 million for the quarter, compared to analyst estimates of $277.00 million. Carrols Restaurant Group had a return on equity of 4.61% and a net margin of 3.13%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. analysts expect that Carrols Restaurant Group, Inc. will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its position in Carrols Restaurant Group by 2.2% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,414 shares of the restaurant operator’s stock worth $360,000 after purchasing an additional 543 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Carrols Restaurant Group by 0.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 194,142 shares of the restaurant operator’s stock worth $2,378,000 after purchasing an additional 590 shares in the last quarter. Wells Fargo & Company MN grew its position in Carrols Restaurant Group by 1.7% in the second quarter. Wells Fargo & Company MN now owns 37,703 shares of the restaurant operator’s stock valued at $462,000 after acquiring an additional 618 shares in the last quarter. Bank of America Corp DE grew its position in Carrols Restaurant Group by 0.3% in the first quarter. Bank of America Corp DE now owns 231,485 shares of the restaurant operator’s stock valued at $3,275,000 after acquiring an additional 649 shares in the last quarter. Finally, Citigroup Inc. grew its position in Carrols Restaurant Group by 8.0% in the second quarter. Citigroup Inc. now owns 14,990 shares of the restaurant operator’s stock valued at $184,000 after acquiring an additional 1,116 shares in the last quarter. 88.48% of the stock is owned by hedge funds and other institutional investors.

TAST has been the subject of a number of research analyst reports. ValuEngine raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Zacks Investment Research downgraded shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. Citigroup upped their price objective on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 20th. UBS downgraded shares of Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, September 26th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $15.50 price objective on shares of Carrols Restaurant Group in a research note on Tuesday, September 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Carrols Restaurant Group has a consensus rating of “Buy” and a consensus price target of $15.25.

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About Carrols Restaurant Group

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

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