Fiesta Restaurant Group Inc (NASDAQ:FRGI) Short Interest Up 19.0% in November

Fiesta Restaurant Group Inc (NASDAQ:FRGI) was the target of a significant increase in short interest in November. As of November 29th, there was short interest totalling 2,130,000 shares, an increase of 19.0% from the November 14th total of 1,790,000 shares. Based on an average daily volume of 275,400 shares, the short-interest ratio is presently 7.7 days. Currently, 7.9% of the shares of the stock are sold short.

FRGI stock traded down $0.01 during trading on Friday, reaching $9.22. 213,040 shares of the stock were exchanged, compared to its average volume of 242,367. The company has a current ratio of 0.51, a quick ratio of 0.46 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average price of $9.35 and a 200-day moving average price of $10.60. Fiesta Restaurant Group has a 1 year low of $8.23 and a 1 year high of $17.67. The firm has a market capitalization of $253.37 million, a price-to-earnings ratio of 15.37 and a beta of -0.05.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Tuesday, November 5th. The restaurant operator reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.08). Fiesta Restaurant Group had a positive return on equity of 5.52% and a negative net margin of 10.65%. The firm had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $164.39 million. During the same period last year, the firm earned $0.11 earnings per share. Fiesta Restaurant Group’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts anticipate that Fiesta Restaurant Group will post 0.43 EPS for the current year.

Several research firms have recently weighed in on FRGI. ValuEngine downgraded shares of Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.

A number of hedge funds have recently modified their holdings of FRGI. SG Americas Securities LLC raised its stake in Fiesta Restaurant Group by 67.5% during the second quarter. SG Americas Securities LLC now owns 13,553 shares of the restaurant operator’s stock worth $178,000 after purchasing an additional 5,464 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Fiesta Restaurant Group by 104.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,840 shares of the restaurant operator’s stock worth $182,000 after purchasing an additional 7,060 shares during the period. Rice Hall James & Associates LLC purchased a new position in Fiesta Restaurant Group during the second quarter worth about $1,282,000. Ruffer LLP raised its stake in Fiesta Restaurant Group by 150.0% during the second quarter. Ruffer LLP now owns 50,000 shares of the restaurant operator’s stock worth $657,000 after purchasing an additional 30,000 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Fiesta Restaurant Group during the second quarter worth about $823,000. 94.96% of the stock is currently owned by institutional investors.

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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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