Red Robin Gourmet Burgers (NASDAQ:RRGB) Announces Quarterly Earnings Results

Red Robin Gourmet Burgers (NASDAQ:RRGB) announced its earnings results on Monday. The restaurant operator reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.08, Zacks reports.

Red Robin Gourmet Burgers Price Performance

NASDAQ:RRGB traded down $0.00 during midday trading on Monday, reaching $4.69. 430,507 shares of the company traded hands, compared to its average volume of 509,917. The firm has a market capitalization of $83.96 million, a price-to-earnings ratio of -1.38 and a beta of 2.55. The company has a fifty day moving average price of $6.37 and a 200 day moving average price of $5.60. Red Robin Gourmet Burgers has a twelve month low of $2.50 and a twelve month high of $7.89.

Insider Transactions at Red Robin Gourmet Burgers

In other news, Director Christopher Ross Martin purchased 34,649 shares of Red Robin Gourmet Burgers stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $6.29 per share, with a total value of $217,942.21. Following the completion of the acquisition, the director owned 1,667,906 shares in the company, valued at $10,491,128.74. The trade was a 2.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Red Robin Gourmet Burgers by 503.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 4,487 shares during the last quarter. Osaic Holdings Inc. increased its position in Red Robin Gourmet Burgers by 152.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 6,075 shares during the period. Occudo Quantitative Strategies LP bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at $76,000. Dynamic Technology Lab Private Ltd acquired a new position in Red Robin Gourmet Burgers during the 1st quarter worth $61,000. Finally, Jane Street Group LLC bought a new position in shares of Red Robin Gourmet Burgers in the first quarter worth $69,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RRGB. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Red Robin Gourmet Burgers in a research note on Wednesday, July 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Two equities research 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’s stock. According to MarketBeat, Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Red Robin Gourmet Burgers Company Profile

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.