Bailard Inc. Takes $616,000 Position in Carrols Restaurant Group, Inc. (TAST)

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Bailard Inc. purchased a new stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,500 shares of the restaurant operator’s stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Carrols Restaurant Group by 8.6% in the first quarter. BlackRock Inc. now owns 2,550,827 shares of the restaurant operator’s stock valued at $28,569,000 after acquiring an additional 202,338 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Carrols Restaurant Group by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,308,407 shares of the restaurant operator’s stock valued at $25,854,000 after acquiring an additional 29,498 shares in the last quarter. Millennium Management LLC increased its stake in Carrols Restaurant Group by 42.4% during the first quarter. Millennium Management LLC now owns 1,402,472 shares of the restaurant operator’s stock valued at $15,708,000 after purchasing an additional 417,911 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Carrols Restaurant Group by 25.1% during the first quarter. Russell Investments Group Ltd. now owns 681,275 shares of the restaurant operator’s stock valued at $7,630,000 after purchasing an additional 136,892 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Carrols Restaurant Group by 15.4% during the first quarter. Eagle Asset Management Inc. now owns 519,484 shares of the restaurant operator’s stock valued at $5,818,000 after purchasing an additional 69,214 shares during the last quarter. 82.96% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on TAST. Zacks Investment Research lowered shares of Carrols Restaurant Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 7th. BidaskClub lowered shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Citigroup boosted their target price on shares of Carrols Restaurant Group from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 13th. SunTrust Banks reiterated a “buy” rating and set a $19.00 target price on shares of Carrols Restaurant Group in a research note on Wednesday, August 8th. Finally, ValuEngine upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.63.

Carrols Restaurant Group stock opened at $16.15 on Tuesday. The stock has a market cap of $568.18 million, a PE ratio of 80.75, a PEG ratio of 2.17 and a beta of 0.34. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.94 and a quick ratio of 0.83. Carrols Restaurant Group, Inc. has a one year low of $9.90 and a one year high of $16.35.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $303.05 million during the quarter, compared to analyst estimates of $301.21 million. Carrols Restaurant Group had a net margin of 1.00% and a return on equity of 8.53%. equities research analysts predict that Carrols Restaurant Group, Inc. will post 0.36 EPS for the current year.

In other news, CFO Paul R. Flanders sold 17,501 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $15.85, for a total transaction of $277,390.85. Following the completion of the transaction, the chief financial officer now owns 323,312 shares in the company, valued at $5,124,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William E. Myers sold 18,300 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $15.57, for a total transaction of $284,931.00. Following the transaction, the vice president now owns 87,273 shares of the company’s stock, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. Insiders have sold 53,939 shares of company stock valued at $846,544 in the last 90 days. Insiders own 4.60% of the company’s stock.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United 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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