Wellington Management Group LLP Purchases Shares of 347,746 Red Robin Gourmet Burgers, Inc. $RRGB

Wellington Management Group LLP acquired a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 347,746 shares of the restaurant operator’s stock, valued at approximately $2,778,000. Wellington Management Group LLP owned approximately 1.84% of Red Robin Gourmet Burgers at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RRGB. BlackRock Inc. purchased a new stake in Red Robin Gourmet Burgers during the 2nd quarter worth about $2,382,000. Western Standard LLC acquired a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at $706,000. Osaic Holdings Inc. increased its stake in Red Robin Gourmet Burgers by 152.6% in the second 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. Jain Global LLC purchased a new stake in Red Robin Gourmet Burgers during the 4th quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets raised its stake in shares of 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 purchasing an additional 4,487 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Price Performance

Shares of NASDAQ RRGB opened at $7.56 on Friday. The company has a market capitalization of $142.88 million, a price-to-earnings ratio of -4.47 and a beta of 2.44. Red Robin Gourmet Burgers, Inc. has a 1-year low of $2.45 and a 1-year high of $10.95. The business has a 50-day moving average of $8.17 and a 200-day moving average of $5.66.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The business had revenue of $277.64 million for the quarter, compared to analyst estimates of $268.56 million. Research analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Wall Street Zen raised Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Benchmark boosted their price objective on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.33.

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.