Fiesta Restaurant Group Inc (NASDAQ:FRGI) major shareholder National Corp Leucadia bought 7,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average cost of $18.39 per share, for a total transaction of $128,730.00. Following the acquisition, the insider now owns 3,270,578 shares of the company’s stock, valued at $60,145,929.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
National Corp Leucadia also recently made the following trade(s):
- On Thursday, March 1st, National Corp Leucadia bought 176,814 shares of Fiesta Restaurant Group stock. The stock was purchased at an average cost of $16.59 per share, for a total transaction of $2,933,344.26.
Fiesta Restaurant Group Inc (NASDAQ:FRGI) traded down $0.20 during mid-day trading on Tuesday, reaching $19.00. 232,062 shares of the company’s stock were exchanged, compared to its average volume of 265,063. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 0.33. Fiesta Restaurant Group Inc has a 12 month low of $15.50 and a 12 month high of $25.35. The firm has a market capitalization of $516.13, a PE ratio of -14.07, a P/E/G ratio of 2.30 and a beta of 0.71.
Fiesta Restaurant Group announced that its board has authorized a share repurchase program on Monday, February 26th that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in FRGI. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Fiesta Restaurant Group during the fourth quarter worth approximately $186,000. Municipal Employees Retirement System of Michigan raised its holdings in Fiesta Restaurant Group by 59.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,160 shares of the restaurant operator’s stock worth $193,000 after purchasing an additional 3,800 shares in the last quarter. Virtu Financial LLC acquired a new stake in Fiesta Restaurant Group during the fourth quarter worth approximately $205,000. MetLife Investment Advisors LLC acquired a new stake in Fiesta Restaurant Group during the fourth quarter worth approximately $254,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Fiesta Restaurant Group by 37.9% during the third quarter. BNP Paribas Arbitrage SA now owns 14,096 shares of the restaurant operator’s stock worth $268,000 after purchasing an additional 3,871 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the stock. ValuEngine raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, Wedbush reissued a “buy” rating and set a $24.00 price objective on shares of Fiesta Restaurant Group in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Fiesta Restaurant Group currently has a consensus rating of “Hold” and a consensus price target of $22.60.
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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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