Insider Selling: Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Sells 11,467 Shares of Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Gerard Johan Hart sold 11,467 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.39, for a total value of $50,340.13. Following the transaction, the chief executive officer now owns 575,270 shares of the company’s stock, valued at $2,525,435.30. This represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Gerard Johan Hart also recently made the following trade(s):

• On Friday, March 14th, Gerard Johan Hart sold 11,997 shares of Red Robin Gourmet Burgers stock. The shares were sold at an average price of $4.46, for a total value of $53,506.62.

Red Robin Gourmet Burgers Stock Up 0.2 %

Shares of NASDAQ RRGB opened at $4.27 on Thursday. The firm’s 50-day simple moving average is $5.26 and its 200 day simple moving average is $5.12. The stock has a market cap of $74.58 million, a P/E ratio of -1.30 and a beta of 2.70. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $9.20.

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 the consensus estimate of $285.20 million. During the same quarter last year, the business earned ($0.66) EPS. On average, sell-side analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RRGB. StockNews.com downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Saturday, March 8th. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Institutional investors have recently added to or reduced their stakes in the company. JCP Investment Management LLC raised 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 worth $10,215,000 after buying an additional 1,373,077 shares in the last quarter. Verition Fund Management LLC acquired a new position in Red Robin Gourmet Burgers during the third quarter worth about $1,082,000. Bandera Partners LLC bought a new stake in Red Robin Gourmet Burgers in the fourth quarter worth about $1,260,000. D. E. Shaw & Co. Inc. lifted its holdings in Red Robin Gourmet Burgers by 112.5% in 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 acquiring an additional 208,862 shares during the last quarter. Finally, PDT Partners LLC boosted its position in shares of Red Robin Gourmet Burgers by 159.5% during the 3rd quarter. PDT Partners LLC now owns 151,360 shares of the restaurant operator’s stock valued at $667,000 after purchasing an additional 93,040 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.