Log Out

Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Passes Above 200 Day Moving Average of $7.76

Defense World · Jan 24, 2023 02:21

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Rating)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.76 and traded as high as $9.57. Red Robin Gourmet Burgers shares last traded at $8.85, with a volume of 688,215 shares changing hands.

Analyst Ratings Changes

RRGB has been the topic of several research reports. CL King initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Tuesday, December 20th. They set a "neutral" rating on the stock. StockNews.com upgraded shares of Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research report on Friday, October 28th. Finally, Jefferies Financial Group lowered shares of Red Robin Gourmet Burgers from a "buy" rating to a "hold" rating in a report on Wednesday, December 21st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Red Robin Gourmet Burgers has an average rating of "Hold" and an average price target of $25.00.

Get Red Robin Gourmet Burgers alerts:

Red Robin Gourmet Burgers Stock Performance

The company has a debt-to-equity ratio of 3.67, a current ratio of 0.53 and a quick ratio of 0.41. The stock has a market capitalization of $140.96 million, a price-to-earnings ratio of -2.54 and a beta of 2.49. The stock has a 50-day moving average of $7.40 and a 200 day moving average of $7.76.

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

Insider Buying and Selling

In related news, Director Thomas G. Conforti purchased 8,769 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were purchased at an average price of $6.96 per share, with a total value of $61,032.24. Following the completion of the purchase, 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 link. 3.30% of the stock is owned by insiders.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP lifted its position in shares of Red Robin Gourmet Burgers by 22.9% in the third quarter. Two Sigma Advisers LP now owns 182,812 shares of the restaurant operator's stock worth $1,230,000 after purchasing an additional 34,100 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 873,734 shares of the restaurant operator's stock worth $5,880,000 after buying an additional 110,626 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Red Robin Gourmet Burgers by 44.2% in the 3rd quarter. Marshall Wace LLP now owns 103,464 shares of the restaurant operator's stock valued at $697,000 after acquiring an additional 31,732 shares in the last quarter. Royal Bank of Canada increased its position in shares of Red Robin Gourmet Burgers by 190.1% in the third quarter. Royal Bank of Canada now owns 20,280 shares of the restaurant operator's stock valued at $136,000 after acquiring an additional 13,289 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Red Robin Gourmet Burgers by 99.8% during the third quarter. Renaissance Technologies LLC now owns 233,666 shares of the restaurant operator's stock worth $1,573,000 after acquiring an additional 116,700 shares in the last quarter. Institutional investors and hedge funds own 68.27% of the company's stock.

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.