Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.15 and traded as high as $5.54. Red Robin Gourmet Burgers shares last traded at $5.05, with a volume of 461,433 shares changing hands.

Red Robin Gourmet Burgers Stock Performance

The stock has a market capitalization of $87.82 million, a price-to-earnings ratio of -1.53 and a beta of 2.65. The firm has a fifty day moving average of $5.60 and a 200-day moving average of $5.15.

Insider Activity at Red Robin Gourmet Burgers

In related news, insider Jumana Capital Investments Llc purchased 800,454 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $4,154,356.26. Following the acquisition, the insider now owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRGB. Quantbot Technologies LP purchased a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at about $34,000. R Squared Ltd purchased a new position in Red Robin Gourmet Burgers in the 4th quarter valued at about $52,000. Wolverine Trading LLC purchased a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at about $55,000. Raymond James Financial Inc. purchased a new position in Red Robin Gourmet Burgers in the 4th quarter valued at about $63,000. Finally, XTX Topco Ltd boosted its position in Red Robin Gourmet Burgers by 139.9% in the 3rd quarter. XTX Topco Ltd now owns 79,246 shares of the restaurant operator’s stock valued at $349,000 after buying an additional 46,219 shares during the last quarter. 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.