Red Robin Gourmet Burgers (NASDAQ:RRGB) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a hold rating to a sell rating in a report released on Saturday.

Separately, CL King raised shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Red Robin Gourmet Burgers currently has an average rating of “Moderate Buy” and an average price target of $13.38.

Red Robin Gourmet Burgers Price Performance

NASDAQ:RRGB opened at $4.57 on Friday. The firm has a market capitalization of $79.82 million, a price-to-earnings ratio of -1.39 and a beta of 2.70. The business has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $5.10. Red Robin Gourmet Burgers has a 1 year low of $2.97 and a 1 year high of $9.20.

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

Institutional Trading of Red Robin Gourmet Burgers

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Red Robin Gourmet Burgers in the 4th quarter worth about $64,000. Millennium Management LLC grew its stake in Red Robin Gourmet Burgers by 22.3% in the 4th quarter. Millennium Management LLC now owns 127,974 shares of the restaurant operator’s stock worth $703,000 after acquiring an additional 23,358 shares in the last quarter. JCP Investment Management LLC increased its position in shares of Red Robin Gourmet Burgers by 281.6% during the fourth quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock worth $10,215,000 after acquiring an additional 1,373,077 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Red Robin Gourmet Burgers by 112.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after acquiring an additional 208,862 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Red Robin Gourmet Burgers during the fourth quarter valued at approximately $181,000. 84.04% of the stock is currently owned by institutional investors.

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.