Fiesta Restaurant Group, Inc. (FRGI) Director Brian P. Friedman Buys 51,710 Shares of Stock

Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Director Brian P. Friedman acquired 51,710 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $897,685.60. Following the purchase, the director now directly owns 36,270 shares of the company’s stock, valued at $629,647.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) traded up 7.08% during mid-day trading on Friday, hitting $18.15. 728,276 shares of the stock traded hands. The firm’s market cap is $487.06 million. Fiesta Restaurant Group, Inc. has a 12-month low of $15.50 and a 12-month high of $30.65. The firm’s 50 day moving average price is $17.54 and its 200 day moving average price is $20.75.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Fiesta Restaurant Group had a positive return on equity of 11.77% and a negative net margin of 2.75%. The company had revenue of $172.62 million for the quarter, compared to analyst estimates of $178.19 million. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Fiesta Restaurant Group, Inc. will post $1.02 EPS for the current fiscal year.

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A number of analysts have recently weighed in on FRGI shares. BidaskClub lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 10th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Fiesta Restaurant Group in a research report on Monday, July 24th. Piper Jaffray Companies restated a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Fiesta Restaurant Group in a research report on Thursday, August 10th. Finally, TheStreet lowered shares of Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a research report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $24.33.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in Fiesta Restaurant Group by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 2,376 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Fiesta Restaurant Group by 5.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 310 shares during the last quarter. Mason Street Advisors LLC grew its stake in Fiesta Restaurant Group by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock valued at $152,000 after acquiring an additional 450 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Fiesta Restaurant Group by 61.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock valued at $211,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Fiesta Restaurant Group in the 2nd quarter valued at about $217,000. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

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).

Insider Buying and Selling by Quarter for Fiesta Restaurant Group (NASDAQ:FRGI)

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