Fiesta Restaurant Group Inc (NASDAQ:FRGI) Short Interest Down 10.9% in October

Fiesta Restaurant Group Inc (NASDAQ:FRGI) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,040,000 shares, a decrease of 10.9% from the September 30th total of 2,290,000 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily volume of 267,900 shares, the days-to-cover ratio is currently 7.6 days.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in shares of Fiesta Restaurant Group by 156.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,183 shares of the restaurant operator’s stock worth $44,000 after buying an additional 2,549 shares during the last quarter. Creative Planning purchased a new position in shares of Fiesta Restaurant Group in the third quarter worth $150,000. Russell Investments Group Ltd. raised its holdings in shares of Fiesta Restaurant Group by 73.5% in the third quarter. Russell Investments Group Ltd. now owns 75,485 shares of the restaurant operator’s stock worth $787,000 after buying an additional 31,985 shares during the last quarter. 6 Meridian purchased a new position in shares of Fiesta Restaurant Group in the third quarter worth $575,000. Finally, Rhumbline Advisers raised its holdings in shares of Fiesta Restaurant Group by 4.2% in the third quarter. Rhumbline Advisers now owns 76,975 shares of the restaurant operator’s stock worth $802,000 after buying an additional 3,115 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

FRGI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Stephens reduced their price objective on shares of Fiesta Restaurant Group from $25.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. BidaskClub raised shares of Fiesta Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, ValuEngine raised shares of Fiesta Restaurant Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.50.

FRGI stock traded down $0.01 during mid-day trading on Friday, reaching $9.29. The company had a trading volume of 299,500 shares, compared to its average volume of 293,468. The company has a market capitalization of $255.26 million, a PE ratio of 15.48 and a beta of -0.11. Fiesta Restaurant Group has a 12 month low of $8.23 and a 12 month high of $19.56. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.51 and a quick ratio of 0.46. The firm has a 50 day moving average of $9.38 and a 200 day moving average of $11.17.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Tuesday, November 5th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.08). The company had revenue of $164.20 million during the quarter, compared to analysts’ expectations of $164.39 million. Fiesta Restaurant Group had a positive return on equity of 5.52% and a negative net margin of 10.65%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. Analysts anticipate that Fiesta Restaurant Group will post 0.45 EPS for the current year.

Fiesta Restaurant Group Company Profile

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.

Further Reading: Convertible Shares

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