Red Robin Gourmet Burgers, Inc. (RRGB) Shares Bought by Highbridge Capital Management LLC

Highbridge Capital Management LLC boosted its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 168.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the restaurant operator’s stock after buying an additional 188,158 shares during the period. Highbridge Capital Management LLC’s holdings in Red Robin Gourmet Burgers were worth $17,535,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Red Robin Gourmet Burgers during the fourth quarter worth about $519,000. Comerica Bank increased its position in Red Robin Gourmet Burgers by 117.1% in the fourth quarter. Comerica Bank now owns 46,945 shares of the restaurant operator’s stock worth $2,418,000 after buying an additional 25,325 shares during the period. State Street Corp increased its position in Red Robin Gourmet Burgers by 5.3% in the fourth quarter. State Street Corp now owns 285,242 shares of the restaurant operator’s stock worth $16,090,000 after buying an additional 14,246 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Red Robin Gourmet Burgers during the fourth quarter worth about $402,000. Finally, Dimensional Fund Advisors LP increased its position in Red Robin Gourmet Burgers by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 838,025 shares of the restaurant operator’s stock worth $47,265,000 after buying an additional 103,768 shares during the period.

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) traded up 0.16% during trading on Friday, hitting $64.35. The stock had a trading volume of 332,669 shares. Red Robin Gourmet Burgers, Inc. has a 12 month low of $40.85 and a 12 month high of $74.11. The company has a market cap of $828.12 million, a P/E ratio of 94.35 and a beta of 0.57. The stock has a 50-day moving average price of $65.31 and a 200 day moving average price of $55.74.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.31. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The company had revenue of $418.60 million for the quarter, compared to analyst estimates of $416.48 million. During the same period in the prior year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts expect that Red Robin Gourmet Burgers, Inc. will post $2.91 EPS for the current fiscal year.

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RRGB has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, February 22nd. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a “hold” rating to a “strong sell” rating in a report on Friday, February 24th. Canaccord Genuity reiterated a “hold” rating and issued a $52.00 price objective on shares of Red Robin Gourmet Burgers in a report on Thursday, March 2nd. Standpoint Research downgraded Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $52.00 price objective on shares of Red Robin Gourmet Burgers in a report on Tuesday, April 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Red Robin Gourmet Burgers presently has a consensus rating of “Buy” and a consensus target price of $74.22.

In related news, Director Glenn B. Kaufman sold 4,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $289,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total value of $211,522.80. Following the transaction, the director now directly owns 6,547 shares in the company, valued at $470,074.60. The disclosure for this sale can be found here. Corporate 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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