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

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.16 and traded as high as $5.67. Red Robin Gourmet Burgers shares last traded at $5.56, with a volume of 187,133 shares.

Red Robin Gourmet Burgers Price Performance

The company has a market cap of $102.77 million, a P/E ratio of -1.80 and a beta of 2.64. The stock has a fifty day moving average price of $5.39 and a two-hundred day moving average price of $5.15.

Insiders Place Their Bets

In other news, insider Jumana Capital Investments Llc acquired 800,454 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $5.19 per share, for a total transaction of $4,154,356.26. Following the purchase, the insider now owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This represents a 98.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 845,704 shares of company stock valued at $4,388,954 in the last three months. 3.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently modified their holdings of RRGB. Pacific Ridge Capital Partners LLC lifted its holdings in Red Robin Gourmet Burgers by 18.8% during the second quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after acquiring an additional 143,957 shares during the period. GSA Capital Partners LLP raised its stake in shares of Red Robin Gourmet Burgers by 482.8% during the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock worth $2,800,000 after purchasing an additional 526,016 shares during the period. Marshall Wace LLP grew its position in Red Robin Gourmet Burgers by 188.9% during the second quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock valued at $2,790,000 after buying an additional 240,954 shares during the period. Millennium Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $2,777,000. Finally, Verition Fund Management LLC bought a new stake in Red Robin Gourmet Burgers in the third quarter worth about $1,082,000. 84.04% of the stock is owned by 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.