Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded at CL King

CL King upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat.com reports. The brokerage currently has $10.00 price objective on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Down 7.4 %

NASDAQ RRGB opened at $5.63 on Thursday. The firm’s 50-day simple moving average is $5.50 and its two-hundred day simple moving average is $5.10. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $9.20. The company has a market cap of $97.92 million, a PE ratio of -1.71 and a beta of 2.65.

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

Insider Activity

In related news, insider Jumana Capital Investments Llc acquired 800,454 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the transaction, the insider now owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Red Robin Gourmet Burgers in the third quarter worth approximately $34,000. R Squared Ltd bought a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth approximately $52,000. Wolverine Trading LLC bought a new position in shares of Red Robin Gourmet Burgers in the third quarter worth approximately $55,000. Raymond James Financial Inc. bought a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth approximately $63,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth approximately $64,000. 84.04% of the stock is currently owned by institutional investors.

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.