Kavi Asset Management Lp adds Fiesta Restaurant Group Inc (FRGI) to its portfolio

Fiesta Restaurant Group Inc (FRGI) : Kavi Asset Management Lp added new position in Fiesta Restaurant Group Inc during the most recent quarter end. The investment management firm now holds 195,800 shares of Fiesta Restaurant Group Inc which is valued at $5,658,620 , the company said in a statement filed on Nov 14, 2016 with the SEC.Fiesta Restaurant Group Inc makes up approximately 5.68% of Kavi Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp sold out all of its stake in FRGI during the most recent quarter. The investment firm sold 39,458 shares of FRGI which is valued $1,140,336. Comerica Bank added FRGI to its portfolio by purchasing 27,716 company shares during the most recent quarter which is valued at $763,576. Fiesta Restaurant Group Inc makes up approx 0.01% of Comerica Bank’s portfolio.Blackrock Fund Advisors boosted its stake in FRGI in the latest quarter, The investment management firm added 1,226,002 additional shares and now holds a total of 1,855,944 shares of Fiesta Restaurant Group Inc which is valued at $50,203,285. Fiesta Restaurant Group Inc makes up approx 0.01% of Blackrock Fund Advisors’s portfolio. Spot Trading L.l.c added FRGI to its portfolio by purchasing 31,766 company shares during the most recent quarter which is valued at $814,798. Fiesta Restaurant Group Inc makes up approx 0.14% of Spot Trading L.l.c’s portfolio. Louisiana State Employees Retirement System added FRGI to its portfolio by purchasing 11,900 company shares during the most recent quarter which is valued at $322,490. Fiesta Restaurant Group Inc makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio.

Fiesta Restaurant Group Inc opened for trading at $28.75 and hit $29 on the upside on Monday, eventually ending the session at $29, with a gain of 0.35% or 0.1 points. The heightened volatility saw the trading volume jump to 2,91,379 shares. Company has a market cap of $780 M.

On the company’s financial health, Fiesta Restaurant Group Inc reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus of $0.32. The company had revenue of $182.26 million for the quarter, compared to analysts expectations of $183.70 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Fiesta Restaurant Group Inc. Fiesta Restaurant Group Inc was Downgraded by Standpoint Research to ” Hold” on Nov 15, 2016. Fiesta Restaurant Group Inc was Downgraded by Piper Jaffray to ” Neutral” on Aug 29, 2016.

Fiesta Restaurant Group Inc. (Fiesta) is engaged in the fast-casual restaurant industry with two restaurant concepts (each of which is an operating segment): Pollo Tropical and Taco Cabana. Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food. Taco Cabana restaurants offers a range of hand-made Mexican food. The Company owns and operates 124 Pollo Tropical restaurants of which 107 are located in Florida 10 are located in Texas five are located in Georgia and two are located in Tennessee and franchised a total of 37 Pollo Tropical restaurants. Fiesta also owns and operates 167 Taco Cabana restaurants of which 162 are located in Texas three are located in Oklahoma and under the Cabana Grill logo one is located in Georgia and one is located in Florida and franchised a total of seven Taco Cabana restaurants. It has four Taco Cabana franchised restaurants located in New Mexico and three non-traditional Taco Cabana licensed locations in Texas.

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