Fiesta Restaurant Group Inc (NASDAQ:FRGI) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,680,000 shares, a growth of 22.9% from the January 15th total of 2,180,000 shares. Currently, 10.0% of the shares of the company are short sold. Based on an average daily volume of 305,400 shares, the days-to-cover ratio is presently 8.8 days.
A number of large investors have recently added to or reduced their stakes in FRGI. Private Capital Management LLC raised its position in Fiesta Restaurant Group by 52.4% in the second quarter. Private Capital Management LLC now owns 1,510,790 shares of the restaurant operator’s stock worth $19,852,000 after acquiring an additional 519,316 shares in the last quarter. Millennium Management LLC raised its position in Fiesta Restaurant Group by 122.3% in the third quarter. Millennium Management LLC now owns 365,786 shares of the restaurant operator’s stock worth $3,811,000 after acquiring an additional 201,253 shares in the last quarter. 6 Meridian purchased a new position in Fiesta Restaurant Group in the third quarter worth $1,713,000. Morgan Stanley raised its position in Fiesta Restaurant Group by 605.9% in the second quarter. Morgan Stanley now owns 106,024 shares of the restaurant operator’s stock worth $1,393,000 after acquiring an additional 91,004 shares in the last quarter. Finally, B. Riley Financial Inc. purchased a new position in Fiesta Restaurant Group in the fourth quarter worth $495,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
NASDAQ:FRGI traded down $0.08 during trading hours on Friday, hitting $10.26. The company’s stock had a trading volume of 9,505 shares, compared to its average volume of 279,114. The business’s 50-day moving average is $10.38 and its two-hundred day moving average is $9.81. The company has a market capitalization of $284.28 million, a PE ratio of -3.83 and a beta of -0.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.46 and a current ratio of 0.51. Fiesta Restaurant Group has a 52-week low of $8.23 and a 52-week high of $16.85.
FRGI has been the subject of several analyst reports. ValuEngine cut Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Zacks Investment Research upgraded Fiesta Restaurant Group from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $12.50.
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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.
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