Municipal Employees Retirement System of Michigan raised its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 58.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,830 shares of the restaurant operator’s stock after acquiring an additional 1,790 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Red Robin Gourmet Burgers were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its position in shares of Red Robin Gourmet Burgers by 10.3% during the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 164 shares during the period. ClariVest Asset Management LLC purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at about $105,000. Daiwa Securities Group Inc. purchased a new position in shares of Red Robin Gourmet Burgers during the third quarter valued at about $147,000. Acadian Asset Management LLC purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at about $149,000. Finally, Seven Eight Capital LP purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at about $163,000.

In other Red Robin Gourmet Burgers news, COO Carin Stutz acquired 715 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of $49.15 per share, with a total value of $35,142.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.66% of the company’s stock.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at $52.55 on Monday. Red Robin Gourmet Burgers, Inc. has a 52 week low of $45.20 and a 52 week high of $74.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.37 and a current ratio of 0.56. The company has a market cap of $679.79, a PE ratio of 25.51, a P/E/G ratio of 2.26 and a beta of 0.56.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). Red Robin Gourmet Burgers had a return on equity of 7.32% and a net margin of 0.94%. The business had revenue of $304.20 million for the quarter, compared to the consensus estimate of $308.44 million. During the same period in the previous year, the firm earned $0.38 EPS. The company’s revenue was up 2.3% on a year-over-year basis. analysts expect that Red Robin Gourmet Burgers, Inc. will post 2.26 EPS for the current fiscal year.

RRGB has been the topic of several research analyst reports. BTIG Research reiterated a “buy” rating and set a $70.00 price target (up previously from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target on shares of Red Robin Gourmet Burgers in a research report on Sunday, October 1st. Stifel Nicolaus initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They set a “hold” rating and a $62.00 price target on the stock. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, October 10th. Finally, Maxim Group reiterated a “buy” rating and set a $75.00 price target on shares of Red Robin Gourmet Burgers in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.00.

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Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

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Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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