Ameriprise Financial Inc. decreased its stake in Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 440,897 shares of the company’s stock after selling 14,822 shares during the period. Ameriprise Financial Inc. owned 3.23% of Red Robin Gourmet Burgers worth $20,912,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Red Robin Gourmet Burgers by 12.2% in the second quarter. American Century Companies Inc. now owns 421,462 shares of the company’s stock valued at $19,990,000 after buying an additional 45,938 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Red Robin Gourmet Burgers by 179.2% in the second quarter. Glenmede Trust Co. NA now owns 356,345 shares of the company’s stock valued at $16,900,000 after buying an additional 228,702 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Red Robin Gourmet Burgers by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 345,979 shares of the company’s stock valued at $22,305,000 after buying an additional 2,576 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Red Robin Gourmet Burgers by 1.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 331,096 shares of the company’s stock valued at $15,704,000 after buying an additional 4,450 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in Red Robin Gourmet Burgers by 10.8% in the second quarter. Rothschild Asset Management Inc. now owns 187,470 shares of the company’s stock valued at $8,892,000 after buying an additional 18,317 shares in the last quarter.

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

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

RRGB has been the subject of several research analyst reports. Maxim Group reiterated a “buy” rating and set a $77.00 target price (down previously from $81.00) on shares of Red Robin Gourmet Burgers in a research report on Friday, June 17th. Canaccord Genuity began coverage on Red Robin Gourmet Burgers in a research note on Monday, August 22nd. They set a “hold” rating and a $53.00 price target for the company. Jefferies Group lowered Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and set a $55.00 price target for the company. in a research note on Tuesday, July 26th. Bank of America Corp. lowered Red Robin Gourmet Burgers from a “buy” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Tuesday, September 13th. Finally, Zacks Investment Research lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Red Robin Gourmet Burgers has a consensus rating of “Hold” and a consensus target price of $71.69.

In other Red Robin Gourmet Burgers news, Director Stuart I. Oran sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $52.62, for a total transaction of $63,144.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stuart B. Brown sold 5,846 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 15,790 shares of the company’s stock, valued at $839,238.50. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate 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.

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