Short Interest Update on Fiesta Restaurant Group (FRGI)

Fiesta Restaurant Group (FRGI) : Traders are negative on Fiesta Restaurant Group (FRGI), as it has 7.3% of short positions outstanding compared to its float. The total shorts have reduced by -22,649 shares, which is a -1.2% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,1,949,516 to 1,926,867 shares. While the daily trading volume of the stock is 845,133, there are 2 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Fiesta Restaurant Group (NASDAQ:FRGI): The stock opened at $23.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $23.58 for the day. The stock traded down to $22.94 during the day, due to lack of any buying support eventually closed down at $23.02 with a loss of -1.62% for the day. The stock had closed at $23.40 on the previous day. The total traded volume was 375,974 shares.


In a related news,The director of Fiesta Restaurant Group, Inc., Daraviras Nicholas sold 4,000 shares at $25.28 on May 31, 2016. The Insider selling transaction had a total value worth of $101,120. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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