Bank of New York Mellon Corp decreased its position in Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) by 9.9% during the second quarter, Holdings Channel reports. The institutional investor owned 168,149 shares of the company’s stock after selling 18,442 shares during the period. Bank of New York Mellon Corp owned about 1.23% of Red Robin Gourmet Burgers worth $7,975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RRGB. Bank of Montreal Can purchased a new position in Red Robin Gourmet Burgers during the second quarter worth about $197,000. LPL Financial LLC purchased a new position in Red Robin Gourmet Burgers during the first quarter worth about $214,000. BNP Paribas Arbitrage SA increased its position in Red Robin Gourmet Burgers by 56.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,918 shares of the company’s stock worth $233,000 after buying an additional 1,771 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Red Robin Gourmet Burgers during the first quarter worth about $245,000. Finally, Envestnet Asset Management Inc. increased its position in Red Robin Gourmet Burgers by 4.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,058 shares of the company’s stock worth $262,000 after buying an additional 171 shares in the last quarter.

Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) traded up 0.41% during midday trading on Friday, reaching $46.46. The company had a trading volume of 231,489 shares. The company has a 50 day moving average of $49.69 and a 200 day moving average of $55.87. Red Robin Gourmet Burgers Inc. has a 12-month low of $45.00 and a 12-month high of $82.66. The firm has a market capitalization of $617.31 million, a price-to-earnings ratio of 15.47 and a beta of 0.98.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.05. The firm earned $305.50 million during the quarter, compared to the consensus estimate of $313.63 million. Red Robin Gourmet Burgers had a return on equity of 12.47% and a net margin of 3.27%. Red Robin Gourmet Burgers’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. Analysts anticipate that Red Robin Gourmet Burgers Inc. will post $3.19 EPS for the current year.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Maxim Group cut their price objective on shares of Red Robin Gourmet Burgers from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. TheStreet downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Standpoint Research assumed coverage on shares of Red Robin Gourmet Burgers in a report on Monday, August 8th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Bank of America Corp. downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Robin Gourmet Burgers presently has an average rating of “Hold” and a consensus price target of $71.69.

In other Red Robin Gourmet Burgers news, Director Stuart I. Oran sold 1,200 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $52.62, for a total value of $63,144.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stuart B. Brown sold 5,846 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $53.15, for a total value of $310,714.90. Following the completion of the transaction, the chief financial officer now owns 15,790 shares of the company’s stock, valued at approximately $839,238.50. The disclosure for this sale can be found here. 2.66% of the stock is owned by company insiders.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

5 Day Chart for NASDAQ:RRGB

Want to see what other hedge funds are holding RRGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB).

Receive News & Ratings for Red Robin Gourmet Burgers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.