Red Robin Gourmet Burgers (NASDAQ:RRGB) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Red Robin Gourmet Burgers (NASDAQ:RRGB) posted its earnings results on Tuesday. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08), FiscalAI reports. The firm had revenue of $378.26 million for the quarter, compared to the consensus estimate of $362.14 million.

Red Robin Gourmet Burgers Trading Up 2.7%

Shares of NASDAQ:RRGB traded up $0.10 on Tuesday, reaching $3.85. 2,070,088 shares of the company’s stock were exchanged, compared to its average volume of 313,204. Red Robin Gourmet Burgers has a twelve month low of $2.45 and a twelve month high of $7.89. The company has a fifty day moving average of $3.51 and a 200-day moving average of $3.90. The company has a market capitalization of $69.82 million, a price-to-earnings ratio of -2.94 and a beta of 2.36.

Analyst Ratings Changes

Several research firms have recently commented on RRGB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. Benchmark dropped their price target on Red Robin Gourmet Burgers from $12.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Wall Street Zen lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Red Robin Gourmet Burgers presently has an average rating of “Hold” and an average price target of $7.50.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Red Robin Gourmet Burgers by 5,671.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock valued at $770,000 after purchasing an additional 130,736 shares during the last quarter. Mink Brook Asset Management LLC lifted its stake in Red Robin Gourmet Burgers by 15.4% in the 4th quarter. Mink Brook Asset Management LLC now owns 530,345 shares of the restaurant operator’s stock valued at $2,148,000 after purchasing an additional 70,893 shares during the last quarter. Jump Financial LLC boosted its position in Red Robin Gourmet Burgers by 405.5% in the second quarter. Jump Financial LLC now owns 52,731 shares of the restaurant operator’s stock valued at $305,000 after buying an additional 42,300 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth $202,000. Finally, Two Sigma Investments LP grew its stake in shares of Red Robin Gourmet Burgers by 20.2% during the third quarter. Two Sigma Investments LP now owns 172,489 shares of the restaurant operator’s stock worth $1,183,000 after buying an additional 29,045 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Red Robin Gourmet Burgers Company 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.