Is Fiesta Restaurant Group Inc (FRGI) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Scoggin  created the largest position in Fiesta Restaurant Group Inc (NASDAQ:FRGI). The other funds with new positions in the stock are Jeffrey Smith’s Starboard Value LP, Richard C. Patton’s Courage Capital, and Richard S. Meisenberg’s ACK Asset Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Fiesta Restaurant Group Inc (NASDAQ:FRGI) but similarly valued. These stocks are Republic Bancorp, Inc. KY (NASDAQ:RBCAA), Chegg Inc (NYSE:CHGG), Intrawest Resorts Holdings Inc (NYSE:SNOW), and Endeavour Silver Corp. (CAN) (NYSE:EXK). This group of stocks’ market valuations are similar to FRGI’s market valuation.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $122 million in FRGI’s case. Chegg Inc (NYSE:CHGG) is the most popular stock in this table. On the other hand Republic Bancorp, Inc. KY (NASDAQ:RBCAA) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Fiesta Restaurant Group Inc (NASDAQ:FRGI) 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.

Disclosure: None