Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,750,000 shares, a drop of 8.6% from the August 30th total of 3,010,000 shares. Based on an average daily volume of 316,400 shares, the short-interest ratio is presently 8.7 days. Currently, 24.3% of the shares of the company are short sold.

Shares of RRGB stock traded down $0.04 during mid-day trading on Tuesday, hitting $31.17. 8,979 shares of the stock were exchanged, compared to its average volume of 225,878. The firm has a fifty day moving average of $33.24 and a 200 day moving average of $31.72. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 1.85. Red Robin Gourmet Burgers has a 52-week low of $24.57 and a 52-week high of $38.96. The company has a market cap of $403.29 million, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Friday, August 23rd. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.72. Red Robin Gourmet Burgers had a negative net margin of 0.55% and a positive return on equity of 6.18%. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $306.39 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts predict that Red Robin Gourmet Burgers will post 1.08 EPS for the current year.

Several brokerages have weighed in on RRGB. BidaskClub downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Stephens set a $36.00 price target on Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Monday, August 26th. Morgan Stanley increased their price target on Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. ValuEngine raised Red Robin Gourmet Burgers from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Zacks Investment Research raised Red Robin Gourmet Burgers from a “sell” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Several hedge funds have recently bought and sold shares of RRGB. Eidelman Virant Capital purchased a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $244,000. Aperio Group LLC purchased a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $153,000. Kavar Capital Partners LLC purchased a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $31,000. Comerica Bank lifted its stake in Red Robin Gourmet Burgers by 8.2% in the 2nd quarter. Comerica Bank now owns 73,690 shares of the restaurant operator’s stock valued at $2,228,000 after buying an additional 5,587 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Red Robin Gourmet Burgers by 2.5% in the 2nd quarter. Swiss National Bank now owns 24,200 shares of the restaurant operator’s stock valued at $740,000 after buying an additional 600 shares in the last quarter.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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