State Street Corp Sells 3,700 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

State Street Corp lessened its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,647 shares of the restaurant operator’s stock after selling 3,700 shares during the quarter. State Street Corp owned approximately 0.38% of Red Robin Gourmet Burgers worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP lifted its stake in Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock worth $2,800,000 after purchasing an additional 526,016 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Red Robin Gourmet Burgers in the third quarter worth about $537,000. Verition Fund Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the third quarter worth about $1,082,000. Pacific Ridge Capital Partners LLC boosted its stake in Red Robin Gourmet Burgers by 18.8% during the second quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock valued at $6,896,000 after buying an additional 143,957 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC purchased a new position in Red Robin Gourmet Burgers during the 2nd quarter valued at approximately $1,135,000. Institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Price Performance

Shares of RRGB opened at $5.91 on Friday. The stock has a market capitalization of $102.79 million, a price-to-earnings ratio of -1.80 and a beta of 2.64. Red Robin Gourmet Burgers, Inc. has a 1 year low of $2.97 and a 1 year high of $11.74. The business’s 50 day simple moving average is $5.43 and its 200-day simple moving average is $5.33.

Insider Activity at Red Robin Gourmet Burgers

In related news, insider Jumana Capital Investments Llc acquired 800,454 shares of Red Robin Gourmet Burgers stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $5.19 per share, with a total value of $4,154,356.26. Following the completion of the purchase, the insider now directly owns 1,614,906 shares of the company’s stock, valued at $8,381,362.14. The trade was a 98.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 846,597 shares of company stock valued at $4,393,946 over the last 90 days. 3.19% of the stock is owned by corporate insiders.

Red Robin Gourmet Burgers Company Profile

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.