Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Rating Reaffirmed by Benchmark

Benchmark reiterated their buy rating on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $18.00 price objective on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Performance

Red Robin Gourmet Burgers stock opened at $5.95 on Monday. The firm has a market cap of $92.82 million, a price-to-earnings ratio of -4.44 and a beta of 2.83. Red Robin Gourmet Burgers has a 1 year low of $5.56 and a 1 year high of $16.50. The firm’s 50 day moving average price is $7.65 and its two-hundred day moving average price is $9.06.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). The company had revenue of $309.00 million during the quarter, compared to analyst estimates of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. As a group, equities analysts predict that Red Robin Gourmet Burgers will post -1.61 EPS for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Red Robin Gourmet Burgers by 121.7% in the first quarter. JPMorgan Chase & Co. now owns 83,528 shares of the restaurant operator’s stock worth $1,408,000 after acquiring an additional 45,852 shares in the last quarter. Raymond James & Associates purchased a new position in Red Robin Gourmet Burgers during the 1st quarter worth approximately $172,000. Bank of New York Mellon Corp grew its position in Red Robin Gourmet Burgers by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 160,532 shares of the restaurant operator’s stock worth $2,706,000 after purchasing an additional 10,489 shares in the last quarter. Citigroup Inc. raised its stake in Red Robin Gourmet Burgers by 11.2% during the 1st quarter. Citigroup Inc. now owns 13,004 shares of the restaurant operator’s stock valued at $219,000 after purchasing an additional 1,309 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 366.4% in the first quarter. MetLife Investment Management LLC now owns 8,965 shares of the restaurant operator’s stock valued at $151,000 after purchasing an additional 7,043 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other 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.