Resolute Capital Asset Partners LLC Invests $1.14 Million in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Resolute Capital Asset Partners LLC acquired a new stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 150,000 shares of the restaurant operator’s stock, valued at approximately $1,135,000. Resolute Capital Asset Partners LLC owned 0.96% of Red Robin Gourmet Burgers as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Fund 1 Investments LLC raised its holdings in Red Robin Gourmet Burgers by 253.0% in the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock valued at $3,796,000 after acquiring an additional 218,187 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Red Robin Gourmet Burgers by 23.0% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock worth $7,951,000 after buying an additional 119,351 shares during the period. First Eagle Investment Management LLC lifted its position in Red Robin Gourmet Burgers by 11.0% during the first quarter. First Eagle Investment Management LLC now owns 986,837 shares of the restaurant operator’s stock worth $7,559,000 after buying an additional 97,424 shares during the period. Quadrature Capital Ltd acquired a new stake in Red Robin Gourmet Burgers in the 1st quarter worth about $166,000. Finally, Virtu Financial LLC purchased a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $149,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Price Performance

NASDAQ RRGB opened at $3.71 on Thursday. Red Robin Gourmet Burgers, Inc. has a 1-year low of $2.97 and a 1-year high of $12.80. The firm has a market capitalization of $58.19 million, a P/E ratio of -2.11 and a beta of 2.74. The business’s 50-day simple moving average is $4.74 and its 200-day simple moving average is $6.30.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Thursday, August 22nd. The restaurant operator reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The company had revenue of $300.15 million for the quarter, compared to analysts’ expectations of $295.57 million. During the same quarter last year, the firm earned ($0.24) EPS. On average, equities research analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Lake Street Capital cut their price objective on shares of Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Craig Hallum cut their price target on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, Benchmark decreased their price target on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.13.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.