Red Robin Gourmet Burgers (NASDAQ:RRGB) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Red Robin Gourmet Burgers (NASDAQ:RRGB) announced its earnings results on Tuesday. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08), FiscalAI reports. The company had revenue of $378.26 million for the quarter, compared to the consensus estimate of $362.14 million.

Red Robin Gourmet Burgers Price Performance

Red Robin Gourmet Burgers stock traded up $0.10 during mid-day trading on Tuesday, hitting $3.85. The company’s stock had a trading volume of 2,454,064 shares, compared to its average volume of 324,991. The stock has a market cap of $69.82 million, a price-to-earnings ratio of -2.94 and a beta of 2.36. The business has a 50 day moving average price of $3.51 and a 200-day moving average price of $3.90. Red Robin Gourmet Burgers has a 12 month low of $2.45 and a 12 month high of $7.89.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RRGB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Benchmark lowered their price target on shares of Red Robin Gourmet Burgers from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.50.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Red Robin Gourmet Burgers by 1.5% in the second quarter. Bank of America Corp DE now owns 182,565 shares of the restaurant operator’s stock worth $1,057,000 after buying an additional 2,697 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after buying an additional 4,487 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Red Robin Gourmet Burgers by 27.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,086 shares of the restaurant operator’s stock worth $86,000 after buying an additional 4,563 shares in the last quarter. Renaissance Technologies LLC raised its stake in Red Robin Gourmet Burgers by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 172,666 shares of the restaurant operator’s stock worth $699,000 after buying an additional 5,923 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Red Robin Gourmet Burgers by 152.6% in the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after buying an additional 6,075 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.