Red Robin Gourmet Burgers, Inc. (RRGB) Shares Bought by BlackRock Inc.

BlackRock Inc. raised its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,769,762 shares of the restaurant operator’s stock after acquiring an additional 128,501 shares during the period. BlackRock Inc. owned approximately 0.14% of Red Robin Gourmet Burgers worth $82,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $141,000. Winslow Evans & Crocker Inc. raised its holdings in Red Robin Gourmet Burgers by 75.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 1,500 shares during the period. SG Americas Securities LLC bought a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $220,000. Bessemer Group Inc. raised its holdings in Red Robin Gourmet Burgers by 239.3% in the 2nd quarter. Bessemer Group Inc. now owns 9,500 shares of the restaurant operator’s stock valued at $443,000 after acquiring an additional 6,700 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Red Robin Gourmet Burgers by 283.2% in the 1st quarter. GSA Capital Partners LLP now owns 14,237 shares of the restaurant operator’s stock valued at $826,000 after acquiring an additional 10,522 shares during the period.

Several research analysts have weighed in on RRGB shares. Wells Fargo & Co lowered their price target on shares of Red Robin Gourmet Burgers from $54.00 to $42.00 and set a “market perform” rating on the stock in a report on Thursday, August 2nd. Morgan Stanley lowered their price target on shares of Red Robin Gourmet Burgers from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, August 3rd. BidaskClub raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Zacks Investment Research cut shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Finally, Raymond James cut shares of Red Robin Gourmet Burgers from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Red Robin Gourmet Burgers currently has an average rating of “Hold” and a consensus target price of $53.73.

Shares of RRGB opened at $38.41 on Monday. Red Robin Gourmet Burgers, Inc. has a 12 month low of $36.20 and a 12 month high of $70.10. The company has a market cap of $521.81 million, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.28. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 0.59.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 21st. The restaurant operator reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Red Robin Gourmet Burgers had a net margin of 1.01% and a return on equity of 7.20%. The company had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $317.38 million. During the same period last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Red Robin Gourmet Burgers, Inc. will post 1.91 EPS for the current year.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. As of December 31, 2017, it operated 480 company-owned restaurants located in 39 states and 2 Canadian provinces; and had 86 casual-dining restaurants operated by franchisees in 15 states.

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Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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