Red Robin Gourmet Burgers Sees Unusually High Options Volume (NASDAQ:RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the target of unusually large options trading on Friday. Traders purchased 6,406 call options on the company. This represents an increase of 3,071% compared to the average daily volume of 202 call options.

Red Robin Gourmet Burgers Stock Up 62.9%

NASDAQ:RRGB opened at $5.10 on Friday. The firm has a market capitalization of $89.87 million, a price-to-earnings ratio of -1.55 and a beta of 2.11. Red Robin Gourmet Burgers has a twelve month low of $2.50 and a twelve month high of $9.20. The stock’s 50 day moving average price is $3.08 and its two-hundred day moving average price is $4.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.76. The company had revenue of $392.35 million for the quarter, compared to analyst estimates of $388.77 million. During the same period last year, the firm earned ($0.80) EPS. As a group, analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, March 8th. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Red Robin Gourmet Burgers presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Insider Buying and Selling

In related news, CEO Gerard Johan Hart sold 11,467 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.39, for a total transaction of $50,340.13. Following the completion of the transaction, the chief executive officer now directly owns 575,270 shares in the company, valued at approximately $2,525,435.30. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 52,759 shares of company stock worth $227,353. 3.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bandera Partners LLC bought a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth approximately $1,260,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 112.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after acquiring an additional 208,862 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in shares of Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock worth $5,872,000 after acquiring an additional 85,518 shares during the period. Barclays PLC boosted its stake in shares of Red Robin Gourmet Burgers by 489.6% during the 4th quarter. Barclays PLC now owns 12,270 shares of the restaurant operator’s stock worth $67,000 after acquiring an additional 10,189 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth approximately $63,000. 84.04% of the stock is currently owned by institutional investors.

Red Robin Gourmet Burgers Company Profile

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.