Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.16 and traded as high as $5.67. Red Robin Gourmet Burgers shares last traded at $5.56, with a volume of 187,133 shares.

Red Robin Gourmet Burgers Trading Up 0.4 %

The stock’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $5.16. The stock has a market capitalization of $96.69 million, a P/E ratio of -1.69 and a beta of 2.64.

Insider Activity

In other news, insider Jumana Capital Investments Llc bought 800,454 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the acquisition, the insider now owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 845,704 shares of company stock valued at $4,388,954. Insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of large investors have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC lifted its holdings in Red Robin Gourmet Burgers by 18.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after buying an additional 143,957 shares during the period. GSA Capital Partners LLP increased its position in Red Robin Gourmet Burgers by 482.8% during the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after purchasing an additional 526,016 shares during the period. Marshall Wace LLP raised its holdings in Red Robin Gourmet Burgers by 188.9% in the 2nd quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock worth $2,790,000 after purchasing an additional 240,954 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter worth about $2,777,000. Finally, Verition Fund Management LLC bought a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at about $1,082,000. Institutional investors own 84.04% of the company’s stock.

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.