Red Robin Gourmet Burgers (NASDAQ:RRGB) Raised to “Buy” at CL King

Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by equities researchers at CL King from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The firm presently has a $10.00 price objective on the restaurant operator’s stock. CL King’s price objective points to a potential upside of 77.62% from the stock’s previous close.

Red Robin Gourmet Burgers Price Performance

RRGB stock opened at $5.63 on Thursday. Red Robin Gourmet Burgers has a one year low of $2.97 and a one year high of $9.20. The stock has a market cap of $97.92 million, a PE ratio of -1.71 and a beta of 2.65. The firm has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $5.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The business had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.20 million. During the same period in the previous year, the company posted ($0.66) earnings per share. On average, research analysts expect that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

Insider Activity

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc acquired 800,454 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $5.19 per share, with a total value of $4,154,356.26. Following the purchase, 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 legal filing with the SEC, which is available at this link. 3.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors have recently made changes to their positions in the business. JCP Investment Management LLC boosted its stake in shares of Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock valued at $10,215,000 after purchasing an additional 1,373,077 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock valued at $5,872,000 after buying an additional 85,518 shares during the period. GSA Capital Partners LLP boosted 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 buying an additional 526,016 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Red Robin Gourmet Burgers by 112.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock valued at $2,166,000 after buying an additional 208,862 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Red Robin Gourmet Burgers during the 3rd quarter valued at $1,082,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.