Monarch Partners Asset Management LLC Sells 335,962 Shares of Carrols Restaurant Group Inc (NASDAQ:TAST)

Monarch Partners Asset Management LLC lowered its holdings in shares of Carrols Restaurant Group Inc (NASDAQ:TAST) by 84.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 60,764 shares of the restaurant operator’s stock after selling 335,962 shares during the period. Monarch Partners Asset Management LLC’s holdings in Carrols Restaurant Group were worth $549,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Private Capital Management LLC increased its position in shares of Carrols Restaurant Group by 5.5% during the first quarter. Private Capital Management LLC now owns 2,403,385 shares of the restaurant operator’s stock worth $23,962,000 after buying an additional 124,923 shares during the period. Royce & Associates LP grew its holdings in Carrols Restaurant Group by 21.0% in the first quarter. Royce & Associates LP now owns 1,025,470 shares of the restaurant operator’s stock worth $10,224,000 after purchasing an additional 177,639 shares during the period. Penn Capital Management Co. Inc. grew its holdings in Carrols Restaurant Group by 31.0% in the first quarter. Penn Capital Management Co. Inc. now owns 369,915 shares of the restaurant operator’s stock worth $3,688,000 after purchasing an additional 87,551 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in Carrols Restaurant Group in the first quarter worth $3,634,000. Finally, Marshall Wace North America L.P. grew its holdings in shares of Carrols Restaurant Group by 152.2% during the first quarter. Marshall Wace North America L.P. now owns 252,885 shares of the restaurant operator’s stock valued at $2,521,000 after buying an additional 152,602 shares during the last quarter. 71.92% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ TAST traded up $0.20 during mid-day trading on Thursday, reaching $7.40. 9,450 shares of the company’s stock traded hands, compared to its average volume of 481,755. The stock has a market cap of $307.49 million, a P/E ratio of 24.27 and a beta of 0.44. The business has a 50-day simple moving average of $8.31 and a 200 day simple moving average of $9.20. Carrols Restaurant Group Inc has a 1-year low of $6.69 and a 1-year high of $16.30. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.32 and a quick ratio of 0.22.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). The business had revenue of $368.56 million for the quarter, compared to analyst estimates of $366.91 million. Carrols Restaurant Group had a negative net margin of 0.77% and a positive return on equity of 0.16%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts anticipate that Carrols Restaurant Group Inc will post 0.15 earnings per share for the current fiscal year.

In other Carrols Restaurant Group news, Director Alexander R. Sloane acquired 13,315 shares of Carrols Restaurant Group stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $7.54 per share, for a total transaction of $100,395.10. Following the completion of the acquisition, the director now directly owns 11,909 shares of the company’s stock, valued at $89,793.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard G. Cross sold 14,600 shares of Carrols Restaurant Group stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $8.63, for a total transaction of $125,998.00. Following the transaction, the vice president now owns 185,698 shares of the company’s stock, valued at $1,602,573.74. The disclosure for this sale can be found here. 22.00% of the stock is owned by company insiders.

TAST has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday. Dougherty & Co reiterated a “buy” rating and set a $16.00 price objective on shares of Carrols Restaurant Group in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Carrols Restaurant Group has a consensus rating of “Hold” and a consensus price target of $13.38.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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Institutional Ownership by Quarter for Carrols Restaurant Group (NASDAQ:TAST)

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