Smith Graham & Co. Investment Advisors LP lowered its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Rating) by 32.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 450,472 shares of the restaurant operator's stock after selling 216,738 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned 2.83% of Red Robin Gourmet Burgers worth $3,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Occudo Quantitative Strategies LP increased its stake in shares of Red Robin Gourmet Burgers by 21.4% during the second quarter. Occudo Quantitative Strategies LP now owns 17,522 shares of the restaurant operator's stock valued at $141,000 after buying an additional 3,086 shares during the period. Walleye Capital LLC purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at approximately $125,000. LPL Financial LLC purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at approximately $100,000. Raymond James & Associates increased its stake in shares of Red Robin Gourmet Burgers by 17.4% during the third quarter. Raymond James & Associates now owns 64,675 shares of the restaurant operator's stock valued at $435,000 after buying an additional 9,600 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Red Robin Gourmet Burgers by 517.0% during the second quarter. Federated Hermes Inc. now owns 328,258 shares of the restaurant operator's stock valued at $2,636,000 after buying an additional 275,060 shares during the period. Institutional investors own 68.27% of the company's stock.

Insider Activity

In other Red Robin Gourmet Burgers news, Director Thomas G. Conforti purchased 8,769 shares of the stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average cost of $6.96 per share, with a total value of $61,032.24. Following the completion of the acquisition, the director now directly owns 27,500 shares in the company, valued at approximately $191,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.30% of the company's stock.

Red Robin Gourmet Burgers Price Performance

Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Rating) last released its earnings results on Wednesday, November 2nd. The restaurant operator reported ($1.03) EPS for the quarter, topping analysts' consensus estimates of ($1.30) by $0.27. Red Robin Gourmet Burgers had a negative return on equity of 69.45% and a negative net margin of 4.36%. The firm had revenue of $286.89 million for the quarter, compared to analysts' expectations of $281.53 million. On average, sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on RRGB. Jefferies Financial Group cut Red Robin Gourmet Burgers from a "buy" rating to a "hold" rating in a research note on Wednesday, December 21st. StockNews.com raised Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research note on Friday, October 28th. Finally, CL King began coverage on Red Robin Gourmet Burgers in a research note on Tuesday, December 20th. They issued a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $25.00.

Red Robin Gourmet Burgers Company Profile

(Get Rating)

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants. The company's restaurants primarily offer burgers and shareable pizzas; various appetizers, salads, soups, sandwiches, seafood, and other entrees; and desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

Featured Stories

• Get a free copy of the StockNews.com research report on Red Robin Gourmet Burgers (RRGB)
• Intuit Is About To Make a Move, But Which Way?
• 3 Late January Earnings Plays With Pop Potential
• Low-Priced Stocks Still Paying Dividends
• Why is the Chipotle Stock Price Surging This Week?
• Is the Northrop Grumman Selloff an Opportunity?

Want to see what other hedge funds are holding RRGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Rating).

Receive News & Ratings for Red Robin Gourmet Burgers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers and related companies with MarketBeat.com's FREE daily email newsletter.