Red Robin Gourmet Burgers (NASDAQ:RRGB) Announces Earnings Results, Misses Expectations By $0.08 EPS

Red Robin Gourmet Burgers (NASDAQ:RRGB) issued 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 business had revenue of $378.26 million during the quarter, compared to analyst estimates of $362.14 million.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB traded up $0.10 during mid-day trading on Tuesday, reaching $3.85. 2,070,088 shares of the company were exchanged, compared to its average volume of 313,204. Red Robin Gourmet Burgers has a 52 week low of $2.45 and a 52 week high of $7.89. The stock has a market capitalization of $69.82 million, a PE ratio of -2.94 and a beta of 2.36. The business has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $3.90.

Institutional Trading of Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Red Robin Gourmet Burgers during the 1st quarter worth approximately $61,000. Goldman Sachs Group Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 38.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 84,625 shares of the restaurant operator’s stock valued at $301,000 after purchasing an additional 23,638 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the first quarter worth $69,000. JPMorgan Chase & Co. increased its position in shares of Red Robin Gourmet Burgers by 5,671.8% during the second quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock worth $770,000 after buying an additional 130,736 shares during the period. Finally, XTX Topco Ltd raised its stake in Red Robin Gourmet Burgers by 128.7% during the second quarter. XTX Topco Ltd now owns 31,415 shares of the restaurant operator’s stock worth $182,000 after buying an additional 17,679 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

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

About Red Robin Gourmet Burgers

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.