Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Sells $35,888.32 in Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Gerard Johan Hart sold 8,627 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $4.16, for a total value of $35,888.32. Following the completion of the sale, the chief executive officer now directly owns 556,225 shares in the company, valued at $2,313,896. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, March 21st, Gerard Johan Hart sold 10,418 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $4.16, for a total value of $43,338.88.
• On Monday, March 17th, Gerard Johan Hart sold 11,467 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $4.39, for a total transaction of $50,340.13.
• On Friday, March 14th, Gerard Johan Hart sold 11,997 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $4.46, for a total transaction of $53,506.62.

Red Robin Gourmet Burgers Stock Down 2.3 %

Shares of NASDAQ RRGB opened at $3.88 on Friday. The firm’s 50-day moving average price is $5.09 and its 200-day moving average price is $5.14. Red Robin Gourmet Burgers, Inc. has a 52-week low of $2.97 and a 52-week high of $9.20. The company has a market cap of $67.77 million, a PE ratio of -1.18 and a beta of 2.70.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company 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 posted ($0.66) EPS. As a group, equities research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on RRGB. StockNews.com cut shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, March 8th. CL King upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Red Robin Gourmet Burgers has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently modified their holdings of the company. JCP Investment Management LLC increased its position in 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 valued at $10,215,000 after acquiring an additional 1,373,077 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock valued at $5,872,000 after purchasing an additional 85,518 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Red Robin Gourmet Burgers by 112.5% during 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 purchasing an additional 208,862 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Red Robin Gourmet Burgers in the 3rd quarter worth approximately $1,082,000. Finally, Bandera Partners LLC purchased a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth approximately $1,260,000. 84.04% of the stock is currently 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.