Red Robin Gourmet Burgers (NASDAQ:RRGB) Insider Sarah Mussetter Sells 4,037 Shares

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) insider Sarah Mussetter sold 4,037 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $3.21, for a total value of $12,958.77. Following the completion of the sale, the insider owned 109,801 shares of the company’s stock, valued at $352,461.21. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Robin Gourmet Burgers Stock Performance

NASDAQ RRGB opened at $3.34 on Wednesday. The stock’s fifty day moving average is $3.88 and its two-hundred day moving average is $4.83. The firm has a market capitalization of $60.35 million, a P/E ratio of -2.55 and a beta of 2.23. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $2.50 and a fifty-two week high of $7.89.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued 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 during the quarter, compared to analyst estimates of $264.26 million. As a group, sell-side analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bandera Partners LLC boosted its position in shares of Red Robin Gourmet Burgers by 58.8% during the 2nd quarter. Bandera Partners LLC now owns 1,350,000 shares of the restaurant operator’s stock worth $7,816,000 after purchasing an additional 500,000 shares during the period. Simcoe Capital LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter valued at $1,989,000. Mink Brook Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter valued at $3,152,000. JPMorgan Chase & Co. raised its holdings in shares of Red Robin Gourmet Burgers by 5,671.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock valued at $770,000 after buying an additional 130,736 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Red Robin Gourmet Burgers during the 2nd quarter worth about $674,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRGB has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, January 22nd. Jefferies Financial Group raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

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.