Mink Brook Asset Management LLC Buys Shares of 459,452 Red Robin Gourmet Burgers, Inc. $RRGB

Mink Brook Asset Management LLC purchased a new position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the third quarter, Holdings Channel.com reports. The fund purchased 459,452 shares of the restaurant operator’s stock, valued at approximately $3,152,000. Red Robin Gourmet Burgers makes up about 2.1% of Mink Brook Asset Management LLC’s portfolio, making the stock its 14th biggest position.

Several other institutional investors have also recently made changes to their positions in RRGB. Bank of America Corp DE lifted its holdings in Red Robin Gourmet Burgers by 1.5% in the second quarter. Bank of America Corp DE now owns 182,565 shares of the restaurant operator’s stock valued at $1,057,000 after acquiring an additional 2,697 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Red Robin Gourmet Burgers by 503.0% during the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 4,487 shares during the last quarter. Osaic Holdings Inc. increased its stake in Red Robin Gourmet Burgers by 152.6% during the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after acquiring an additional 6,075 shares during the last quarter. JPMorgan Chase & Co. raised its position in Red Robin Gourmet Burgers by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 141,675 shares of the restaurant operator’s stock valued at $972,000 after purchasing an additional 8,634 shares during the period. Finally, Granite Investment Partners LLC purchased a new stake in Red Robin Gourmet Burgers in the third quarter valued at $73,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of Red Robin Gourmet Burgers in a research note on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Red Robin Gourmet Burgers Stock Performance

NASDAQ RRGB opened at $3.27 on Tuesday. The firm has a market cap of $59.09 million, a price-to-earnings ratio of -2.50 and a beta of 2.22. The firm has a 50 day simple moving average of $3.90 and a 200-day simple moving average of $4.85. Red Robin Gourmet Burgers, Inc. has a one year low of $2.50 and a one year high of $7.89.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Wednesday, February 25th. The restaurant operator reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.13). The business had revenue of $269.04 million for the quarter, compared to the consensus estimate of $264.26 million. Equities analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.