Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a sell rating to a hold rating in a report published on Friday morning.

Separately, CL King raised shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Red Robin Gourmet Burgers Trading Down 7.4 %

Shares of Red Robin Gourmet Burgers stock opened at $5.63 on Friday. The business has a 50-day moving average price of $5.50 and a two-hundred day moving average price of $5.10. Red Robin Gourmet Burgers has a 1-year low of $2.97 and a 1-year high of $9.20. The company has a market cap of $97.92 million, a P/E ratio of -1.71 and a beta of 2.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm posted ($0.66) EPS. Equities research analysts forecast that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

Insider Transactions at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc purchased 800,454 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $5.19 per share, with a total value of $4,154,356.26. Following the transaction, the insider now owns 1,614,906 shares in the company, valued at $8,381,362.14. The trade was a 98.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.19% of the company’s stock.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several large investors have recently added to or reduced their stakes in RRGB. JCP Investment Management LLC lifted its position in Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock valued at $10,215,000 after acquiring an additional 1,373,077 shares in the last quarter. GSA Capital Partners LLP lifted its position in Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after acquiring an additional 526,016 shares in the last quarter. Verition Fund Management LLC bought a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at about $1,082,000. Bandera Partners LLC bought a new position in Red Robin Gourmet Burgers in the 4th quarter valued at about $1,260,000. Finally, D. E. Shaw & Co. Inc. lifted its position in Red Robin Gourmet Burgers by 112.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock valued at $2,166,000 after acquiring an additional 208,862 shares in the last quarter. Institutional investors 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.