Insider Selling: Red Robin Gourmet Burgers (NASDAQ:RRGB) Insider Sells 4,037 Shares of Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) insider Sarah Mussetter sold 4,037 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $3.21, for a total transaction of $12,958.77. Following the sale, the insider owned 109,801 shares of the company’s stock, valued at $352,461.21. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Red Robin Gourmet Burgers Price Performance

Red Robin Gourmet Burgers stock traded up $0.07 during trading hours on Tuesday, reaching $3.34. The stock had a trading volume of 308,377 shares, compared to its average volume of 321,262. The stock has a market cap of $60.35 million, a PE ratio of -2.55 and a beta of 2.22. Red Robin Gourmet Burgers, Inc. has a 52 week low of $2.50 and a 52 week high of $7.89. The company has a fifty day simple moving average of $3.90 and a 200-day simple moving average of $4.85.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.13). The firm had revenue of $269.04 million for the quarter, compared to analysts’ expectations of $264.26 million. Research analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 4,487 shares in the last quarter. Jain Global LLC bought a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter valued at $47,000. Osaic Holdings Inc. grew its position in shares of Red Robin Gourmet Burgers by 152.6% in the 2nd 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 during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Red Robin Gourmet Burgers in the 1st quarter worth about $61,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Red Robin Gourmet Burgers in the 4th quarter worth about $65,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RRGB. Benchmark reiterated a “buy” rating on shares of Red Robin Gourmet Burgers in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.50.

Red Robin Gourmet Burgers Company Profile

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.