Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.09 and traded as high as $7.79. Red Robin Gourmet Burgers shares last traded at $7.77, with a volume of 535,042 shares changing hands.

Wall Street Analyst Weigh In

RRGB has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Tuesday, April 21st. Benchmark reissued a “buy” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Wall Street Zen cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, UBS Group set a $8.00 target price on Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.67.

Red Robin Gourmet Burgers Stock Down 3.3%

The company has a market capitalization of $143.00 million, a price-to-earnings ratio of -5.15 and a beta of 2.48. The business’s 50-day moving average is $4.83 and its 200-day moving average is $4.14.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $378.26 million during the quarter, compared to the consensus estimate of $273.29 million. As a group, analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in Red Robin Gourmet Burgers by 503.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 4,487 shares in the last quarter. Jain Global LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 4th quarter valued at approximately $47,000. Osaic Holdings Inc. lifted its stake in shares of Red Robin Gourmet Burgers by 152.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after purchasing an additional 6,075 shares during the period. MB Generational Wealth LLC acquired a new position in shares of Red Robin Gourmet Burgers in the 1st quarter valued at $59,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Red Robin Gourmet Burgers during the first quarter worth $61,000. 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, 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.