Insider Buying: Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Director Acquires 14,910 Shares of Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Director Anthony S. Ackil purchased 14,910 shares of the business’s stock in a transaction on Friday, June 20th. The stock was purchased at an average price of $5.03 per share, with a total value of $74,997.30. Following the purchase, the director now owns 103,802 shares of the company’s stock, valued at approximately $522,124.06. The trade was a 16.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Red Robin Gourmet Burgers Price Performance

RRGB stock remained flat at $5.00 during midday trading on Monday. 320,483 shares of the company’s stock were exchanged, compared to its average volume of 587,039. Red Robin Gourmet Burgers, Inc. has a 1 year low of $2.50 and a 1 year high of $8.18. The firm has a market capitalization of $88.70 million, a price-to-earnings ratio of -1.18 and a beta of 2.38. The stock’s 50 day simple moving average is $3.78 and its 200-day simple moving average is $4.53.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.76. The company had revenue of $392.35 million during the quarter, compared to the consensus estimate of $388.77 million. During the same period in the prior year, the company earned ($0.80) earnings per share. On average, research analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds have recently added to or reduced their stakes in the company. JCP Investment Management LLC boosted its position in shares of Red Robin Gourmet Burgers by 281.6% in the fourth quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock valued at $10,215,000 after acquiring an additional 1,373,077 shares during the period. Bandera Partners LLC increased its position in Red Robin Gourmet Burgers by 270.2% during the first quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator’s stock worth $3,026,000 after acquiring an additional 620,402 shares during the period. D. E. Shaw & Co. Inc. increased its position in Red Robin Gourmet Burgers by 112.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after acquiring an additional 208,862 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings 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 purchasing an additional 85,518 shares during the period. Finally, Trexquant Investment LP bought a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $209,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RRGB shares. Wall Street Zen cut shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, March 8th. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.38.

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.