Stock Traders Purchase Large Volume of Carrols Restaurant Group Call Options (NASDAQ:TAST)

Carrols Restaurant Group Inc (NASDAQ:TAST) saw some unusual options trading on Wednesday. Stock investors acquired 1,009 call options on the stock. This represents an increase of 793% compared to the typical volume of 113 call options.

In related news, VP Richard G. Cross sold 14,600 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $8.63, for a total transaction of $125,998.00. Following the completion of the sale, the vice president now directly owns 185,698 shares in the company, valued at approximately $1,602,573.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander R. Sloane bought 13,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $7.54 per share, with a total value of $100,395.10. Following the completion of the acquisition, the director now directly owns 11,909 shares in the company, valued at $89,793.86. The disclosure for this purchase can be found here. Corporate insiders own 22.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Management LLC grew its holdings in shares of Carrols Restaurant Group by 5.5% in the first quarter. Private Capital Management LLC now owns 2,403,385 shares of the restaurant operator’s stock worth $23,962,000 after acquiring an additional 124,923 shares during the period. Marshall Wace North America L.P. lifted its position in Carrols Restaurant Group by 152.2% during the first quarter. Marshall Wace North America L.P. now owns 252,885 shares of the restaurant operator’s stock valued at $2,521,000 after purchasing an additional 152,602 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Carrols Restaurant Group by 33.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 69,978 shares of the restaurant operator’s stock valued at $649,000 after purchasing an additional 17,405 shares in the last quarter. Bessemer Group Inc. lifted its position in Carrols Restaurant Group by 18.1% during the second quarter. Bessemer Group Inc. now owns 103,200 shares of the restaurant operator’s stock valued at $932,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Creative Planning lifted its position in Carrols Restaurant Group by 12.6% during the second quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock valued at $157,000 after purchasing an additional 1,940 shares in the last quarter. 74.00% of the stock is owned by institutional investors.

Carrols Restaurant Group stock opened at $7.01 on Thursday. The firm has a market cap of $287.97 million, a price-to-earnings ratio of 23.37 and a beta of 0.55. The stock has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $8.64. Carrols Restaurant Group has a 12 month low of $6.23 and a 12 month high of $14.51. The company has a current ratio of 0.32, a quick ratio of 0.22 and a debt-to-equity ratio of 3.73.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). Carrols Restaurant Group had a positive return on equity of 0.16% and a negative net margin of 0.77%. The firm had revenue of $368.56 million during the quarter, compared to the consensus estimate of $366.91 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue was up 21.6% on a year-over-year basis.

Several research firms have weighed in on TAST. Deutsche Bank began coverage on Carrols Restaurant Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price objective for the company. Raymond James lowered their target price on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, BidaskClub cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $11.70.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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