SG Americas Securities LLC Has $1.94 Million Position in Red Robin Gourmet Burgers, Inc. (RRGB)
SG Americas Securities LLC increased its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,795 shares of the restaurant operator’s stock after buying an additional 3,073 shares during the period. SG Americas Securities LLC owned approximately 0.23% of Red Robin Gourmet Burgers worth $1,944,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter worth about $840,000. Janney Montgomery Scott LLC acquired a new stake in Red Robin Gourmet Burgers during the first quarter worth about $499,000. Russell Investments Group Ltd. raised its stake in Red Robin Gourmet Burgers by 206.1% in the first quarter. Russell Investments Group Ltd. now owns 28,075 shares of the restaurant operator’s stock worth $1,641,000 after buying an additional 18,904 shares during the period. Wells Fargo & Company MN raised its stake in Red Robin Gourmet Burgers by 2,125.9% in the first quarter. Wells Fargo & Company MN now owns 212,862 shares of the restaurant operator’s stock worth $12,442,000 after buying an additional 203,299 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in Red Robin Gourmet Burgers during the first quarter worth about $4,726,000.
Shares of Red Robin Gourmet Burgers, Inc. (RRGB) opened at 58.55 on Friday. The stock’s 50 day moving average price is $60.60 and its 200 day moving average price is $59.31. The firm has a market cap of $756.88 million, a price-to-earnings ratio of 90.78 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a one year low of $40.85 and a one year high of $74.11.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The business had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $315.69 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Red Robin Gourmet Burgers, Inc. will post $2.75 earnings per share for the current fiscal year.
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A number of research firms have issued reports on RRGB. Stephens reaffirmed an “overweight” rating and issued a $75.00 target price on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. BidaskClub lowered Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Maxim Group raised their target price on Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and issued a $85.00 target price on shares of Red Robin Gourmet Burgers in a report on Tuesday, July 25th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $62.00 target price on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.80.
In other Red Robin Gourmet Burgers news, CFO Guy J. Constant bought 2,500 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average price of $58.88 per share, with a total value of $147,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total transaction of $211,522.80. Following the sale, the director now directly owns 6,547 shares in the company, valued at approximately $470,074.60. The disclosure for this sale can be found here. Insiders own 2.66% of the company’s stock.
Red Robin Gourmet Burgers Company Profile
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.
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