Carrols Restaurant Group, Inc. (NASDAQ:TAST) Short Interest Update

Carrols Restaurant Group, Inc. (NASDAQ:TAST) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,660,000 shares, an increase of 22.1% from the August 15th total of 1,360,000 shares. Based on an average daily volume of 709,500 shares, the days-to-cover ratio is presently 2.3 days. Currently, 4.9% of the company’s shares are sold short.

Insider Activity at Carrols Restaurant Group

In related news, VP Richard G. Cross sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $7.06, for a total value of $35,300.00. Following the completion of the sale, the vice president now directly owns 277,179 shares in the company, valued at $1,956,883.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 33.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in shares of Carrols Restaurant Group during the second quarter worth $49,000. State Board of Administration of Florida Retirement System acquired a new stake in Carrols Restaurant Group in the second quarter valued at $53,000. Royal Bank of Canada raised its holdings in Carrols Restaurant Group by 58.1% in the second quarter. Royal Bank of Canada now owns 10,434 shares of the restaurant operator’s stock valued at $52,000 after acquiring an additional 3,834 shares in the last quarter. Citigroup Inc. acquired a new stake in Carrols Restaurant Group in the second quarter valued at $55,000. Finally, Lazard Asset Management LLC acquired a new stake in Carrols Restaurant Group in the second quarter valued at $60,000. 29.12% of the stock is owned by institutional investors and hedge funds.

Carrols Restaurant Group Stock Down 2.0 %

Shares of NASDAQ TAST traded down $0.12 during trading on Friday, reaching $5.98. 567,758 shares of the stock were exchanged, compared to its average volume of 517,133. The business’s 50-day moving average price is $6.20 and its 200 day moving average price is $4.71. Carrols Restaurant Group has a twelve month low of $1.31 and a twelve month high of $7.75. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $325.58 million, a price-to-earnings ratio of -19.27 and a beta of 2.28.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $0.27 EPS for the quarter. Carrols Restaurant Group had a negative net margin of 0.66% and a positive return on equity of 4.53%. The business had revenue of $485.22 million for the quarter, compared to analysts’ expectations of $479.91 million. As a group, equities analysts forecast that Carrols Restaurant Group will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TAST has been the topic of a number of recent research reports. Stephens lifted their price target on shares of Carrols Restaurant Group from $6.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Truist Financial lifted their price target on shares of Carrols Restaurant Group from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, StockNews.com raised shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $7.63.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates as a restaurant company in the United States. The company operates as a Burger King and Popeyes franchisee. The company was founded in 1960 and is headquartered in Syracuse, New York.