Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Rating)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.74 and traded as high as $8.08. Red Robin Gourmet Burgers shares last traded at $8.02, with a volume of 547,977 shares changing hands.
Wall Street Analyst Weigh In
Several brokerages have recently commented on RRGB. CL King began coverage on Red Robin Gourmet Burgers in a research report on Tuesday, December 20th. They set a "neutral" rating on the stock. Jefferies Financial Group cut Red Robin Gourmet Burgers from a "buy" rating to a "hold" rating in a report on Wednesday, December 21st. Finally, StockNews.com upgraded Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a report on Friday, October 28th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.00.
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Red Robin Gourmet Burgers Price Performance
The company has a market capitalization of $127.74 million, a PE ratio of -2.30 and a beta of 2.49. The firm has a fifty day moving average of $7.16 and a two-hundred day moving average of $7.74. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 3.67.
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The restaurant operator reported ($1.03) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $286.89 million during the quarter, compared to analysts' expectations of $281.53 million. Research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.54 EPS for the current fiscal year.
Insiders Place Their Bets
In other Red Robin Gourmet Burgers news, Director Thomas G. Conforti acquired 8,769 shares of the company's stock in a transaction on Tuesday, November 8th. The stock was acquired at an average price of $6.96 per share, for a total transaction of $61,032.24. Following the acquisition, the director now owns 27,500 shares in the company, valued at approximately $191,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.30% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Rutabaga Capital Management LLC MA lifted its stake in shares of Red Robin Gourmet Burgers by 93.8% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 615,894 shares of the restaurant operator's stock valued at $4,946,000 after purchasing an additional 298,073 shares during the period. Federated Hermes Inc. lifted its stake in shares of Red Robin Gourmet Burgers by 517.0% in the 2nd quarter. Federated Hermes Inc. now owns 328,258 shares of the restaurant operator's stock valued at $2,636,000 after purchasing an additional 275,060 shares during the period. Pacific Ridge Capital Partners LLC purchased a new position in shares of Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $983,000. Smith Graham & Co. Investment Advisors LP lifted its stake in shares of Red Robin Gourmet Burgers by 27.3% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 667,210 shares of the restaurant operator's stock valued at $5,358,000 after purchasing an additional 142,968 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Red Robin Gourmet Burgers by 1,296.3% in the 2nd quarter. Millennium Management LLC now owns 141,572 shares of the restaurant operator's stock valued at $1,137,000 after purchasing an additional 131,433 shares during the period. Hedge funds and other institutional investors own 68.27% of the company's stock.
About Red Robin Gourmet Burgers
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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.
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