Hedge Funds Are Betting On Carrols Restaurant Group, Inc. (TAST)

As industrywide interest jumped, key hedge funds were leading the bulls’ herd. G2 Investment Partners Management, managed by Josh Goldberg, established the most outsized position in Carrols Restaurant Group, Inc. (NASDAQ:TAST). G2 Investment Partners Management had $1.9 million invested in the company at the end of the quarter. Bryant Regan’s Lafitte Capital Management also made a $1.2 million investment in the stock during the quarter. The other funds with brand new TAST positions are D E Shaw, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Peter Muller’s PDT Partners.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Carrols Restaurant Group, Inc. (NASDAQ:TAST) but similarly valued. We will take a look at Intrepid Potash, Inc. (NYSE:IPI), HCI Group, Inc. (NYSE:HCI), Lakeland Bancorp, Inc. (NASDAQ:LBAI), and Eldorado Resorts Inc (NASDAQ:ERI). This group of stocks’ market valuations are closest to Carrols Restaurant Group, Inc. (NASDAQ:TAST)’s market valuation.

As you can see, these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $121 million in Carrols Restaurant Group, Inc. (NASDAQ:TAST)’s case. Intrepid Potash, Inc. (NYSE:IPI) is the most popular stock in this table. On the other hand, HCI Group Inc (NYSE:HCI) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks, Carrols Restaurant Group, Inc. (NASDAQ:TAST) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.