Heartland Advisors Inc. Purchases Shares of 125,000 Fiesta Restaurant Group Inc (FRGI)

Heartland Advisors Inc. purchased a new position in shares of Fiesta Restaurant Group Inc (NASDAQ:FRGI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 125,000 shares of the restaurant operator’s stock, valued at approximately $2,313,000. Heartland Advisors Inc. owned approximately 0.46% of Fiesta Restaurant Group at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FRGI. Oaktree Capital Management LP boosted its stake in shares of Fiesta Restaurant Group by 243.3% during the 4th quarter. Oaktree Capital Management LP now owns 950,000 shares of the restaurant operator’s stock worth $18,050,000 after acquiring an additional 673,286 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Fiesta Restaurant Group by 4.7% during the 4th quarter. BlackRock Inc. now owns 3,475,407 shares of the restaurant operator’s stock worth $66,032,000 after acquiring an additional 155,965 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Fiesta Restaurant Group in the 4th quarter valued at approximately $2,423,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Fiesta Restaurant Group in the 4th quarter valued at approximately $1,560,000. Finally, Deutsche Bank AG lifted its stake in Fiesta Restaurant Group by 129.0% in the 4th quarter. Deutsche Bank AG now owns 108,582 shares of the restaurant operator’s stock valued at $2,061,000 after buying an additional 61,163 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

In other Fiesta Restaurant Group news, major shareholder National Corp Leucadia bought 176,814 shares of Fiesta Restaurant Group stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average price of $16.59 per share, for a total transaction of $2,933,344.26. Following the completion of the acquisition, the insider now owns 3,075,383 shares of the company’s stock, valued at approximately $51,020,603.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack A. Smith bought 3,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $17.04 per share, with a total value of $51,120.00. Following the acquisition, the director now directly owns 52,041 shares of the company’s stock, valued at approximately $886,778.64. The disclosure for this purchase can be found here. Insiders have purchased 186,814 shares of company stock valued at $3,113,194 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

A number of research firms recently issued reports on FRGI. ValuEngine raised Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Wedbush reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Fiesta Restaurant Group in a research note on Tuesday, May 8th. TheStreet raised Fiesta Restaurant Group from a “d+” rating to a “c” rating in a research note on Wednesday, May 9th. BidaskClub lowered Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research lowered Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.75.

FRGI stock opened at $24.10 on Monday. Fiesta Restaurant Group Inc has a 1 year low of $15.50 and a 1 year high of $27.90. The company has a market capitalization of $656.78 million, a P/E ratio of 40.17, a P/E/G ratio of 2.91 and a beta of 0.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.77.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, May 7th. The restaurant operator reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Fiesta Restaurant Group had a positive return on equity of 5.87% and a negative net margin of 2.56%. The business had revenue of $169.48 million for the quarter, compared to analyst estimates of $163.86 million. During the same quarter in the previous year, the company posted $0.25 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts expect that Fiesta Restaurant Group Inc will post 0.64 earnings per share for the current year.

Fiesta Restaurant Group declared that its Board of Directors has approved a stock buyback program on Monday, February 26th that allows the company to buyback 1,500,000 shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Fiesta Restaurant Group

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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Institutional Ownership by Quarter for Fiesta Restaurant Group (NASDAQ:FRGI)

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