Carrols Restaurant Group, Inc. (NASDAQ:TAST) Sees Large Growth in Short Interest

Carrols Restaurant Group, Inc. (NASDAQ:TAST - Get Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 950,400 shares, a growth of 46.1% from the February 29th total of 650,300 shares. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 0.9 days. Currently, 2.4% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial reissued a "hold" rating and set a $9.55 target price (down previously from $10.00) on shares of Carrols Restaurant Group in a research note on Monday, January 22nd. Craig Hallum reissued a "hold" rating on shares of Carrols Restaurant Group in a research note on Wednesday, January 17th. Stephens reissued an "equal weight" rating and set a $9.55 target price (down previously from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Finally, StockNews.com began coverage on shares of Carrols Restaurant Group in a research report on Saturday. They set a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.87.

Carrols Restaurant Group Trading Up 0.1 %

Shares of Carrols Restaurant Group stock traded up $0.01 on Friday, reaching $9.51. The company had a trading volume of 1,910,837 shares, compared to its average volume of 944,959. The firm's 50 day moving average price is $9.45 and its two-hundred day moving average price is $7.86. The firm has a market cap of $545.73 million, a PE ratio of 18.29 and a beta of 2.50. Carrols Restaurant Group has a 52-week low of $2.16 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.41 and a current ratio of 0.49.

Carrols Restaurant Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Monday, March 11th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, March 8th. Carrols Restaurant Group's payout ratio is currently 15.38%.

Institutional Investors Weigh In On Carrols Restaurant Group

Large investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC purchased a new stake in Carrols Restaurant Group during the 2nd quarter worth approximately $6,506,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Carrols Restaurant Group in the 3rd quarter valued at approximately $1,600,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Carrols Restaurant Group in the 3rd quarter valued at approximately $549,000. Assenagon Asset Management S.A. increased its position in shares of Carrols Restaurant Group by 181.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 460,177 shares of the restaurant operator's stock valued at $3,033,000 after purchasing an additional 296,473 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Carrols Restaurant Group in the 3rd quarter valued at approximately $117,000. 86.80% of the stock is owned by hedge funds and other institutional investors.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates restaurants in the United States. It operates quick service restaurants as a franchisee under the Burger King and Popeyes brands in 23 Northeastern, Midwestern, Southcentral, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.