Western Standard LLC Purchases Shares of 88,418 Red Robin Gourmet Burgers, Inc. $RRGB

Western Standard LLC purchased a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 88,418 shares of the restaurant operator’s stock, valued at approximately $706,000. Red Robin Gourmet Burgers comprises 0.2% of Western Standard LLC’s investment portfolio, making the stock its 26th biggest position. Western Standard LLC owned approximately 0.48% of Red Robin Gourmet Burgers at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. JCP Investment Management LLC raised its position in shares of Red Robin Gourmet Burgers by 0.6% during the 4th quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock worth $7,579,000 after purchasing an additional 10,567 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Red Robin Gourmet Burgers by 8.8% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock valued at $5,623,000 after buying an additional 112,526 shares during the last quarter. Vanguard Group Inc. increased its position in Red Robin Gourmet Burgers by 1.4% during the third quarter. Vanguard Group Inc. now owns 752,809 shares of the restaurant operator’s stock worth $5,164,000 after buying an additional 10,735 shares in the last quarter. Mink Brook Asset Management LLC increased its position in Red Robin Gourmet Burgers by 15.4% during the fourth quarter. Mink Brook Asset Management LLC now owns 530,345 shares of the restaurant operator’s stock worth $2,148,000 after buying an additional 70,893 shares in the last quarter. Finally, Simcoe Capital LLC acquired a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth $1,989,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group set a $8.00 price objective on Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. Benchmark lifted their price objective on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Down 6.9%

Shares of NASDAQ:RRGB opened at $9.51 on Thursday. The company has a market cap of $179.74 million, a P/E ratio of -5.63 and a beta of 2.40. The business has a fifty day simple moving average of $7.36 and a 200-day simple moving average of $5.05. Red Robin Gourmet Burgers, Inc. has a 52 week low of $2.45 and a 52 week high of $10.95.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The company had revenue of $277.64 million for the quarter, compared to analysts’ expectations of $268.56 million. Sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current fiscal year.

Red Robin Gourmet Burgers Profile

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.