Red Robin Gourmet Burgers (NASDAQ:RRGB) Rating Increased to Buy at CL King

CL King upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $10.00 target price on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB opened at $6.08 on Thursday. The stock’s fifty day moving average price is $5.50 and its two-hundred day moving average price is $5.09. Red Robin Gourmet Burgers has a 52-week low of $2.97 and a 52-week high of $9.20. The company has a market cap of $105.74 million, a price-to-earnings ratio of -1.85 and a beta of 2.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.44). The business had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.20 million. During the same quarter last year, the company posted ($0.66) earnings per share. On average, equities analysts predict that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Jumana Capital Investments Llc purchased 800,454 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $5.19 per share, with a total value of $4,154,356.26. Following the purchase, the insider now directly owns 1,614,906 shares in the company, valued at $8,381,362.14. This trade represents a 98.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RRGB. Bridgeway Capital Management LLC raised its stake in Red Robin Gourmet Burgers by 3.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,500 shares of the restaurant operator’s stock worth $360,000 after buying an additional 2,400 shares during the period. Dimensional Fund Advisors LP raised its stake in Red Robin Gourmet Burgers by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 98,793 shares of the restaurant operator’s stock worth $542,000 after buying an additional 2,730 shares during the period. Northern Trust Corp raised its stake in Red Robin Gourmet Burgers by 11.9% during the 4th quarter. Northern Trust Corp now owns 32,258 shares of the restaurant operator’s stock worth $177,000 after buying an additional 3,427 shares during the period. Geode Capital Management LLC raised its stake in Red Robin Gourmet Burgers by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 198,525 shares of the restaurant operator’s stock worth $1,090,000 after buying an additional 4,209 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.