Cove Street Capital Lowers stake in Carrols Restaurant Group (TAST)

Carrols Restaurant Group (TAST) : Cove Street Capital reduced its stake in Carrols Restaurant Group by 35.7% during the most recent quarter end. The investment management company now holds a total of 2,051,192 shares of Carrols Restaurant Group which is valued at $27.5 Million after selling 1,138,760 shares in Carrols Restaurant Group , the firm said in a disclosure report filed with the SEC on May 12, 2016.Carrols Restaurant Group makes up approximately 3.69% of Cove Street Capital’s portfolio.

Other Hedge Funds, Including , Spark Investment Management boosted its stake in TAST in the latest quarter, The investment management firm added 114,100 additional shares and now holds a total of 146,500 shares of Carrols Restaurant Group which is valued at $2 Million. Carrols Restaurant Group makes up approx 0.20% of Spark Investment Management’s portfolio. Hillsdale Investment Management added TAST to its portfolio by purchasing 5,500 company shares during the most recent quarter which is valued at $73,700. Carrols Restaurant Group makes up approx 0.02% of Hillsdale Investment Management’s portfolio.Garnet Equity Capital Holdings boosted its stake in TAST in the latest quarter, The investment management firm added 44,503 additional shares and now holds a total of 134,503 shares of Carrols Restaurant Group which is valued at $1.8 Million. Carrols Restaurant Group makes up approx 2.62% of Garnet Equity Capital Holdings’s portfolio.Rhumbline Advisers boosted its stake in TAST in the latest quarter, The investment management firm added 740 additional shares and now holds a total of 35,636 shares of Carrols Restaurant Group which is valued at $486,431.Russell Frank Co reduced its stake in TAST by selling 106,039 shares or 17.46% in the most recent quarter. The Hedge Fund company now holds 501,398 shares of TAST which is valued at $7 Million. Carrols Restaurant Group makes up approx 0.01% of Russell Frank Co’s portfolio.

Carrols Restaurant Group closed down -0.05 points or -0.40% at $12.48 with 2,67,514 shares getting traded on Friday. Post opening the session at $12.6, the shares hit an intraday low of $12.44 and an intraday high of $12.61 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Many Wall Street Analysts have commented on Carrols Restaurant Group. Company shares were Reiterated by Dougherty & Company on Mar 4, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $14.75 .

Carrols Restaurant Group Inc. is a holding company and conducts all of its operations through its direct and indirect subsidiaries. The Company’s subsidiaries include Carrols LLC and Carrols Corporation. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. It is a Burger King franchisee and operates Burger King restaurants. As of December 28 2014 the Company owned and operated 674 Burger King restaurants located in 15 Northeastern Midwestern and Southeastern states. Burger King restaurants feature the flame-broiled Whopper sandwich as well as a range of hamburgers chicken and other specialty sandwiches French fries salads breakfast items snacks smoothies frappes and other offerings. As of December 28 2014 the Company owned 10 and leased 664 Burger King restaurant properties including seven restaurants located in mall shopping centers two restaurants located on military bases and 21 co-branded locations.

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