Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded at StockNews.com

StockNews.com upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a sell rating to a hold rating in a research report report published on Friday morning.

Separately, CL King upgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Red Robin Gourmet Burgers Stock Down 7.4 %

Red Robin Gourmet Burgers stock opened at $5.63 on Friday. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $9.20. The company’s 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.10. The stock has a market cap of $97.92 million, a P/E ratio of -1.71 and a beta of 2.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.44). The business had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.20 million. During the same quarter in the prior year, the company posted ($0.66) earnings per share. On average, equities analysts anticipate that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

Insider Transactions at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc acquired 800,454 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $5.19 per share, for a total transaction of $4,154,356.26. Following the purchase, the insider now owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This represents a 98.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. JCP Investment Management LLC grew its stake in Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock valued at $10,215,000 after buying an additional 1,373,077 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Red Robin Gourmet Burgers by 8.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock valued at $5,872,000 after buying an additional 85,518 shares in the last quarter. GSA Capital Partners LLP grew its stake in Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after buying an additional 526,016 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Red Robin Gourmet Burgers by 112.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock valued at $2,166,000 after buying an additional 208,862 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $1,082,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.