StockNews.com Initiates Coverage on Fiesta Restaurant Group (NASDAQ:FRGI)

Stock analysts at StockNews.com initiated coverage on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a report issued on Sunday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Fiesta Restaurant Group Price Performance

Shares of FRGI stock opened at $8.38 on Friday. Fiesta Restaurant Group has a one year low of $5.89 and a one year high of $9.28. The company has a market cap of $219.47 million, a P/E ratio of -39.90 and a beta of 1.78. The firm has a 50-day moving average of $8.13 and a 200-day moving average of $8.06.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, August 7th. The restaurant operator reported $0.19 EPS for the quarter. Fiesta Restaurant Group had a negative net margin of 1.25% and a positive return on equity of 0.82%. The firm had revenue of $106.84 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Fiesta Restaurant Group by 179.5% during the 2nd quarter. BlackRock Inc. now owns 1,061,332 shares of the restaurant operator’s stock worth $8,427,000 after purchasing an additional 681,659 shares during the period. Millennium Management LLC purchased a new position in Fiesta Restaurant Group in the second quarter valued at about $2,506,000. Bank of Montreal Can purchased a new position in Fiesta Restaurant Group in the second quarter valued at about $2,017,000. Private Capital Management LLC increased its stake in shares of Fiesta Restaurant Group by 15.3% during the 2nd quarter. Private Capital Management LLC now owns 1,492,127 shares of the restaurant operator’s stock worth $10,654,000 after purchasing an additional 198,017 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Fiesta Restaurant Group by 89.0% during the second quarter. Geode Capital Management LLC now owns 379,397 shares of the restaurant operator’s stock valued at $3,012,000 after purchasing an additional 178,631 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About Fiesta Restaurant Group

Fiesta Restaurant Group, Inc, together with its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical brand. The company's Pollo Tropical restaurants offer fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items.