Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.31 and traded as high as $10.36. Red Robin Gourmet Burgers shares last traded at $9.42, with a volume of 297,523 shares traded.

Analyst Upgrades and Downgrades

RRGB has been the topic of several recent research reports. Benchmark boosted their target price on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.33.

Red Robin Gourmet Burgers Trading Down 6.6%

The firm’s fifty day moving average is $7.86 and its 200-day moving average is $5.31. The stock has a market capitalization of $178.04 million, a PE ratio of -5.57 and a beta of 2.40.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The company had revenue of $277.64 million for the quarter, compared to analysts’ expectations of $268.56 million. As a group, equities analysts predict that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several institutional investors have recently added to or reduced their stakes in RRGB. Simcoe Capital LLC acquired a new position in Red Robin Gourmet Burgers during the 4th quarter worth about $1,989,000. Western Standard LLC acquired a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $706,000. Pacific Ridge Capital Partners LLC grew its position in Red Robin Gourmet Burgers by 8.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock valued at $5,623,000 after acquiring an additional 112,526 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $2,778,000. Finally, Lotus Technology Management LP purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $305,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

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.