Citadel Advisors LLC trimmed its stake in Fiesta Restaurant Group Inc (NASDAQ:FRGI) by 72.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 37,624 shares of the restaurant operator’s stock after selling 101,140 shares during the quarter. Citadel Advisors LLC owned approximately 0.14% of Fiesta Restaurant Group worth $696,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. bought a new stake in Fiesta Restaurant Group in the fourth quarter valued at $186,000. Virtu Financial LLC bought a new stake in Fiesta Restaurant Group in the fourth quarter valued at $205,000. MetLife Investment Advisors LLC bought a new stake in Fiesta Restaurant Group in the fourth quarter valued at $254,000. New York State Teachers Retirement System lifted its stake in Fiesta Restaurant Group by 49.6% in the first quarter. New York State Teachers Retirement System now owns 15,677 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 5,200 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in Fiesta Restaurant Group in the fourth quarter valued at $293,000. Institutional investors own 99.11% of the company’s stock.
Shares of Fiesta Restaurant Group opened at $26.25 on Monday, according to Marketbeat Ratings. Fiesta Restaurant Group Inc has a fifty-two week low of $15.50 and a fifty-two week high of $27.90. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35. The stock has a market cap of $715.37 million, a P/E ratio of 50.48, a P/E/G ratio of 2.91 and a beta of 0.48.
Fiesta Restaurant Group announced that its Board of Directors has authorized a share repurchase plan on Monday, February 26th that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
FRGI has been the topic of a number of recent research reports. Zacks Investment Research cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. ValuEngine upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Wedbush restated a “buy” rating and set a $24.00 price objective on shares of Fiesta Restaurant Group in a research note on Tuesday, February 27th. BidaskClub upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, TheStreet upgraded shares of Fiesta Restaurant Group from a “d+” rating to a “c” rating in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.75.
Fiesta Restaurant Group 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 citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.
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