Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Cross Above 200 Day Moving Average – What’s Next?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.67 and traded as high as $7.89. Red Robin Gourmet Burgers shares last traded at $7.44, with a volume of 707,969 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Red Robin Gourmet Burgers in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.38.

Red Robin Gourmet Burgers Stock Performance

The stock has a market cap of $131.92 million, a P/E ratio of -1.76 and a beta of 2.41. The company’s 50 day moving average price is $5.33 and its 200-day moving average price is $4.67.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted 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 for the quarter, compared to the consensus estimate of $388.77 million. During the same quarter in the previous year, the company posted ($0.80) EPS. On average, analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Red Robin Gourmet Burgers news, Director Anthony S. Ackil acquired 14,910 shares of the company’s stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of $5.03 per share, with a total value of $74,997.30. Following the completion of the acquisition, the director directly owned 103,802 shares in the company, valued at $522,124.06. This trade represents a 16.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently modified their holdings of RRGB. JCP Investment Management LLC lifted its holdings 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 worth $10,215,000 after buying an additional 1,373,077 shares in the last quarter. Bandera Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 270.2% in the first quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator’s stock worth $3,026,000 after buying an additional 620,402 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 112.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after buying an additional 208,862 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 8.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock worth $5,872,000 after buying an additional 85,518 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Red Robin Gourmet Burgers in the first quarter valued at approximately $209,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Red Robin Gourmet Burgers

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.