Bandera Partners AUM, Performance, Holdings

2. Fiesta Restaurant Group Inc (NASDAQ:FRGI)

Jeff Gramm’s fund cut its position in Fiesta Restaurant Group Inc (NASDAQ:FRGI) by 29% during the second quarter and held 281,932 shares worth $5.82 million at the end of June. Fiesta Restaurant Group Inc (NASDAQ:FRGI)’s stock has slid by 41% since the beginning of 2017 amid the company posting worse-than-expected profit and revenue for the last four quarters. Fiesta Restaurant Group Inc (NASDAQ:FRGI) operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana. As the company has been facing declining sales, the management embarked on a plan to renew its strategy. Aside from Bandera Partners, Fiesta Restaurant Group Inc (NASDAQ:FRGI) is facing criticism from another activist, JCP Investment Management, which in May issued a letter to the company’s shareholders, highlighting the company’s underperformance and seeking to replace two board members. However, in June, shareholders re-elected all three Fiesta’s nominees. Ian Cumming and Joseph Steinberg’s Leucadia National, Daniel Beltzman and Gregory Smith’s Birch Run Capital, and Jim Simons’ Renaissance Technologies also own shares of Fiesta Restaurant Group Inc (NASDAQ:FRGI).

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