Wasatch Advisors Inc. reduced its stake in Fiesta Restaurant Group Inc (NASDAQ:FRGI) by 30.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,468,568 shares of the restaurant operator’s stock after selling 1,089,588 shares during the period. Wasatch Advisors Inc. owned about 0.09% of Fiesta Restaurant Group worth $46,903,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL raised its stake in Fiesta Restaurant Group by 203.3% in the third quarter. Virginia Retirement Systems ET AL now owns 64,900 shares of the restaurant operator’s stock worth $1,233,000 after buying an additional 43,500 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Fiesta Restaurant Group in the third quarter worth about $270,000. Dimensional Fund Advisors LP raised its stake in Fiesta Restaurant Group by 32.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,449,051 shares of the restaurant operator’s stock worth $29,923,000 after buying an additional 354,351 shares in the last quarter. First Manhattan Co. bought a new position in Fiesta Restaurant Group in the third quarter worth about $1,837,000. Finally, First Eagle Investment Management LLC bought a new position in Fiesta Restaurant Group in the third quarter worth about $999,000.
FRGI has been the subject of a number of analyst reports. Wedbush reaffirmed a “buy” rating and set a $19.00 target price on shares of Fiesta Restaurant Group in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, BidaskClub downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Fiesta Restaurant Group presently has a consensus rating of “Hold” and an average price target of $22.60.
Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, November 6th. The restaurant operator reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.19). Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The business had revenue of $158.70 million for the quarter, compared to the consensus estimate of $162.05 million. During the same period in the prior year, the business posted $0.30 EPS. Fiesta Restaurant Group’s revenue for the quarter was down 12.9% on a year-over-year basis. equities research analysts expect that Fiesta Restaurant Group Inc will post 0.73 EPS for the current fiscal year.
In other news, insider Charles Locke purchased 1,565 shares of Fiesta Restaurant Group stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average price of $18.73 per share, with a total value of $29,312.45. Following the completion of the transaction, the insider now directly owns 1,565 shares of the company’s stock, valued at $29,312.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.
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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