Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded to Buy at CL King

Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by investment analysts at CL King from a “neutral” rating to a “buy” rating in a report issued on Thursday,Finviz reports. The firm presently has a $10.00 price objective on the restaurant operator’s stock. CL King’s target price would suggest a potential upside of 121.24% from the stock’s previous close.

Red Robin Gourmet Burgers Stock Down 1.1 %

Shares of NASDAQ RRGB opened at $4.52 on Thursday. The business’s 50 day moving average price is $5.48 and its 200 day moving average price is $5.09. The firm has a market cap of $78.61 million, a P/E ratio of -1.37 and a beta of 2.65. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.20 million. During the same quarter in the prior year, the company posted ($0.66) EPS. As a group, research analysts expect that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current year.

Insider Transactions at Red Robin Gourmet Burgers

In other news, insider Jumana Capital Investments Llc acquired 800,454 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $5.19 per share, with a total value of $4,154,356.26. Following the purchase, the insider now owns 1,614,906 shares in the company, valued at $8,381,362.14. This trade represents a 98.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.19% of the company’s stock.

Institutional Trading of Red Robin Gourmet Burgers

Several large investors have recently added to or reduced their stakes in RRGB. JCP Investment Management LLC grew its holdings in shares of Red Robin Gourmet Burgers by 281.6% during the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock worth $10,215,000 after purchasing an additional 1,373,077 shares during the period. Pacific Ridge Capital Partners LLC grew its holdings in shares of Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock worth $5,872,000 after purchasing an additional 85,518 shares during the period. GSA Capital Partners LLP grew its holdings 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. D. E. Shaw & Co. Inc. grew its holdings in shares of Red Robin Gourmet Burgers by 112.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after purchasing an additional 208,862 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth $1,082,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.