Kovack Advisors Inc. Takes Position in Carrols Restaurant Group, Inc. (TAST)

Kovack Advisors Inc. acquired a new stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,528 shares of the restaurant operator’s stock, valued at approximately $189,000.

A number of other institutional investors have also recently made changes to their positions in TAST. Monarch Partners Asset Management LLC increased its position in shares of Carrols Restaurant Group by 13.7% during the fourth quarter. Monarch Partners Asset Management LLC now owns 43,580 shares of the restaurant operator’s stock valued at $529,000 after buying an additional 5,260 shares during the period. Victory Capital Management Inc. increased its position in shares of Carrols Restaurant Group by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 186,438 shares of the restaurant operator’s stock valued at $2,265,000 after buying an additional 13,887 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Carrols Restaurant Group by 7.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 162,177 shares of the restaurant operator’s stock valued at $1,971,000 after buying an additional 11,526 shares during the period. Susquehanna International Group LLP increased its position in shares of Carrols Restaurant Group by 165.2% during the third quarter. Susquehanna International Group LLP now owns 10,794 shares of the restaurant operator’s stock valued at $118,000 after buying an additional 27,358 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Carrols Restaurant Group by 11.8% during the third quarter. California Public Employees Retirement System now owns 90,596 shares of the restaurant operator’s stock valued at $987,000 after buying an additional 9,596 shares during the period. Institutional investors and hedge funds own 87.30% of the company’s stock.

In other news, CEO Daniel T. Accordino sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $13.06, for a total transaction of $653,000.00. Following the completion of the transaction, the chief executive officer now owns 1,147,860 shares of the company’s stock, valued at $14,991,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William E. Myers sold 6,400 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $12.96, for a total value of $82,944.00. Following the transaction, the vice president now directly owns 77,049 shares of the company’s stock, valued at approximately $998,555.04. The disclosure for this sale can be found here. Insiders have sold 58,900 shares of company stock valued at $767,944 in the last three months. 5.60% of the stock is owned by insiders.

Shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) opened at $12.65 on Monday. Carrols Restaurant Group, Inc. has a 52-week low of $9.90 and a 52-week high of $17.55. The firm has a market capitalization of $457.41, a PE ratio of 105.42, a PEG ratio of 2.67 and a beta of 0.15. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.79.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). Carrols Restaurant Group had a return on equity of 4.61% and a net margin of 3.13%. The business had revenue of $258.24 million for the quarter, compared to analysts’ expectations of $277.00 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. sell-side analysts predict that Carrols Restaurant Group, Inc. will post 0.17 EPS for the current year.

Several brokerages have recently weighed in on TAST. ValuEngine cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut Carrols Restaurant Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Zacks Investment Research upgraded Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, December 6th. Finally, Citigroup upped their price target on Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Carrols Restaurant Group currently has an average rating of “Hold” and a consensus target price of $15.00.

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About Carrols Restaurant Group

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

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Institutional Ownership by Quarter for Carrols Restaurant Group (NASDAQ:TAST)

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