Carrols Restaurant Group Inc. [TAST] VP, Chief Development Officer makes an insider sale of 5,000 shares worth 35,300.


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Carrols Restaurant Group Inc. shares valued at $35,300 were sold by Cross Richard G on Aug 30. At $7.06 per share, Cross Richard G sold 5,000 shares. The insider’s holdings dropped to 277,179 shares worth approximately $1.93 million following the completion of this transaction.

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Also, Myers William E sold 10,000 shares, netting a total of over 20,265 in proceeds. Following the sale of shares at $2.03 each, the insider now holds 88,571 shares.

Before that, Pena Paulo A had added 17,000 shares to its account. In a trade valued at $24,794, the President and CEO bought Carrols Restaurant Group Inc. shares for $1.46 each. Upon closing the transaction, the insider’s holdings increased to 17,000 shares, worth approximately $0.97 million.

As published in a research note from Craig Hallum on March 07, 2023, Carrols Restaurant Group Inc. [TAST] has been rated up from a Hold to a Buy and the price target has been revised to $4 from $2.50. This represents a -74.5% premium over Thursday’s closing price.

Analyzing TAST Stock Performance

On Thursday, Carrols Restaurant Group Inc. [NASDAQ: TAST] plunged -2.65% to $6.98. The stock’s lowest price that day was $6.94, but it reached a high of $7.19 in the same session. During the last five days, there has been a surge of approximately 5.60%. Over the course of the year, Carrols Restaurant Group Inc. shares have jumped approximately 413.24%. Shares of the company reached a 52-week high of $7.75 on 08/10/23 and a 52-week low of $1.37 on 01/03/23. A 50-day SMA is recorded $5.86, while a 200-day SMA reached $3.58. Nevertheless, trading volume fell to 0.54 million shares from 0.5 million shares the previous day.

Support And Resistance Levels for Carrols Restaurant Group Inc. (TAST)

According to the 24-hour chart, there is a support level at 6.88, which, if violated, would cause prices to drop to 6.79. In the upper region, resistance lies at 7.13. The next price resistance is at 7.29. RSI (Relative Strength Index) is 59.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 49.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Carrols Restaurant Group Inc. subject to short interest?

Stocks of Carrols Restaurant Group Inc. saw a sharp steep in short interest on Aug 14, 2023 dropping by 100000.0 shares to 1.36 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 1.46 million shares. A decline of -7.35% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.8 of the overall float, the days-to-cover ratio (short ratio) decline to 1.8.

Which companies own the most shares of Carrols Restaurant Group Inc. (TAST)?

According to BlackRock Fund Advisors filings, the company currently owns 2,420,109 shares, which is about 4.48% of the total TAST shares outstanding. The investor’s shares have appreciated by 1,857,582 from its previous 13-F filing of 562527.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $9,508,934. Dimensional Fund Advisors LP acquire a 13.78% interest valued at $9.37 million while Solel Partners LP 0 stake. In its current portfolio, Atika Capital Management LLC holds 790,000 shares valued at $4.65 million.

In terms of Carrols Restaurant Group Inc. share price expectations, FactSet research, analysts set an average price target of $9.25 in the next 12 months, up nearly 32.5% from the previous closing price of $7.17. Analysts anticipate Carrols Restaurant Group Inc. stock to reach $10.00 by 2023, with the lowest price target being $8.00. In spite of this, 4 analysts ranked Carrols Restaurant Group Inc. stock as a Buy at the end of 2023.


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