Red Robin Gourmet Burgers (NASDAQ:RRGB) Lifted to “Hold” at StockNews.com

Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, Benchmark upped their target price on shares of Red Robin Gourmet Burgers from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, March 22nd.

Red Robin Gourmet Burgers Stock Down 7.0 %

RRGB traded down $1.02 during trading hours on Friday, hitting $13.62. 631,203 shares of the company’s stock were exchanged, compared to its average volume of 361,585. Red Robin Gourmet Burgers has a 12-month low of $5.35 and a 12-month high of $16.50. The firm has a 50 day moving average of $13.68 and a 200 day moving average of $10.26. The firm has a market cap of $217.78 million, a P/E ratio of -2.79 and a beta of 2.85. The company has a current ratio of 0.55, a quick ratio of 0.43 and a debt-to-equity ratio of 37.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Rating) last announced its earnings results on Tuesday, February 28th. The restaurant operator reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.69). Red Robin Gourmet Burgers had a negative return on equity of 115.54% and a negative net margin of 6.04%. The business had revenue of $290.09 million for the quarter, compared to analysts’ expectations of $280.72 million. Analysts predict that Red Robin Gourmet Burgers will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling at Red Robin Gourmet Burgers

In other news, insider Joshua Todd Wilson acquired 10,000 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were bought at an average cost of $11.22 per share, with a total value of $112,200.00. Following the transaction, the insider now owns 55,395 shares in the company, valued at approximately $621,531.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joshua Todd Wilson acquired 10,000 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were bought at an average cost of $11.22 per share, with a total value of $112,200.00. Following the transaction, the insider now owns 55,395 shares in the company, valued at approximately $621,531.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerard Johan Hart bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average cost of $11.99 per share, for a total transaction of $299,750.00. Following the completion of the transaction, the chief executive officer now directly owns 183,656 shares in the company, valued at $2,202,035.44. The disclosure for this purchase can be found here. In the last three months, insiders have bought 36,751 shares of company stock valued at $431,946. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Red Robin Gourmet Burgers by 0.5% in the 1st quarter. BlackRock Inc. now owns 2,441,027 shares of the restaurant operator’s stock valued at $41,155,000 after buying an additional 12,397 shares during the last quarter. American Century Companies Inc. grew its position in shares of Red Robin Gourmet Burgers by 1.8% in the 4th quarter. American Century Companies Inc. now owns 1,956,146 shares of the restaurant operator’s stock valued at $10,915,000 after buying an additional 34,665 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Red Robin Gourmet Burgers by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 873,734 shares of the restaurant operator’s stock valued at $5,880,000 after buying an additional 110,626 shares during the last quarter. Rutabaga Capital Management LLC MA grew its position in shares of Red Robin Gourmet Burgers by 12.2% in the 3rd quarter. Rutabaga Capital Management LLC MA now owns 691,244 shares of the restaurant operator’s stock valued at $4,652,000 after buying an additional 75,350 shares during the last quarter. Finally, State Street Corp grew its position in shares of Red Robin Gourmet Burgers by 6.3% in the 1st quarter. State Street Corp now owns 553,487 shares of the restaurant operator’s stock valued at $9,332,000 after buying an additional 32,967 shares during the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Company Profile

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Red Robin Gourmet Burgers, Inc develops, operates, and franchises full-service restaurants North America. It serves a variety of salads, soups, appetizers, other entrees, desserts, signature alcoholic and non-alcoholic beverages. The company was founded in September 1969 and is headquartered in Englewood, CO.