In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Fiesta Restaurant Group Inc. (NASDAQ:FRGI) reported that Jcp Investment Management, Llc. has picked up 517,358 of common stock as of 2017-05-18.
The acquisition brings the aggregate amount owned by Jcp Investment Management, Llc. to a total of 517,358 representing less than 1.91% stake in the company.
For those not familiar with the company, Fiesta Restaurant Group, Inc. owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc., and its subsidiaries, and Pollo Franchise, Inc., (collectively Pollo Tropical) and Taco Cabana, Inc. and its subsidiaries (collectively Taco Cabana). The Company operates through the Pollo Tropical and Taco Cabana segments. The Company’s Pollo Tropical restaurants offer Caribbean menu items, featuring its bone-in chicken marinated in blend of tropical fruit juices and grilled over an open flame. The Company also offers catering for parties and corporate events. The Company’s Taco Cabana restaurants serves Mexican food, including flame-grilled steak and chicken fajitas served on sizzling iron skillets, quesadillas, hand-rolled flautas, enchiladas, burritos, tacos, fresh-made flour tortillas, customizable salads served in its Cabana Bowl, and its breakfast tacos.
A glance at Fiesta Restaurant Group Inc. (NASDAQ:FRGI)’s key stats reveals a current market capitalization of 603.08 Million based on 26.79 Million shares outstanding and a price at last close of $22.40 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-10, Friedman picked up 12,087 at a purchase price of $22.02. This brings their total holding to 1,019,087 as of the date of the filing.
On the sell side, the most recent transaction saw Kinder unload 122 shares at a sale price of $20.70. This brings their total holding to 4,446.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Fiesta Restaurant Group Inc. (NASDAQ:FRGI) as things move forward to see if its progress aligns with these transactions.
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