Red Robin Gourmet Burgers (NASDAQ:RRGB) Announces Quarterly Earnings Results

Red Robin Gourmet Burgers (NASDAQ:RRGB) issued its quarterly earnings results on Monday. The restaurant operator reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.08, Zacks reports.

Red Robin Gourmet Burgers Stock Down 0.0%

Shares of RRGB stock traded down $0.00 during mid-day trading on Monday, reaching $4.69. The company’s stock had a trading volume of 430,507 shares, compared to its average volume of 509,917. The firm has a market capitalization of $83.96 million, a PE ratio of -1.38 and a beta of 2.55. The company’s 50 day simple moving average is $6.37 and its 200-day simple moving average is $5.60. Red Robin Gourmet Burgers has a 12-month low of $2.50 and a 12-month high of $7.89.

Insider Transactions at Red Robin Gourmet Burgers

In related news, Director Christopher Ross Martin acquired 34,649 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $6.29 per share, with a total value of $217,942.21. Following the completion of the transaction, the director directly owned 1,667,906 shares of the company’s stock, valued at $10,491,128.74. This trade represents a 2.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.64% of the company’s stock.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $61,000. Goldman Sachs Group Inc. grew its holdings in Red Robin Gourmet Burgers by 38.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 84,625 shares of the restaurant operator’s stock valued at $301,000 after purchasing an additional 23,638 shares in the last quarter. Jane Street Group LLC purchased a new stake in Red Robin Gourmet Burgers during the 1st quarter worth $69,000. JPMorgan Chase & Co. lifted its holdings in Red Robin Gourmet Burgers by 5,671.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock worth $770,000 after buying an additional 130,736 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Red Robin Gourmet Burgers by 128.7% in the 2nd quarter. XTX Topco Ltd now owns 31,415 shares of the restaurant operator’s stock worth $182,000 after buying an additional 17,679 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRGB has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Red Robin Gourmet Burgers in a research note on Wednesday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a report on Thursday. 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

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.