Vanguard Group Inc. raised its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 4.9% during the first quarter, Holdings Channel reports. The fund owned 668,118 shares of the restaurant operator’s stock after buying an additional 30,946 shares during the period. Vanguard Group Inc. owned about 0.05% of Red Robin Gourmet Burgers worth $39,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Red Robin Gourmet Burgers by 2.0% in the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after buying an additional 10,250 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Red Robin Gourmet Burgers by 10.0% in the first quarter. Wedge Capital Management L L P NC now owns 374,288 shares of the restaurant operator’s stock valued at $21,877,000 after buying an additional 34,090 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the first quarter valued at approximately $21,211,000. Finally, Thomson Horstmann & Bryant Inc. raised its position in shares of Red Robin Gourmet Burgers by 61.9% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 307,575 shares of the restaurant operator’s stock valued at $17,977,000 after buying an additional 117,652 shares during the last quarter.

Red Robin Gourmet Burgers, Inc. (RRGB) traded down 0.17% during mid-day trading on Monday, reaching $60.50. The company had a trading volume of 5,893 shares. The firm has a 50-day moving average of $62.48 and a 200 day moving average of $58.48. The company has a market capitalization of $782.08 million, a PE ratio of 93.80 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a 1-year low of $40.85 and a 1-year high of $74.11.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. The business had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.75 earnings per share for the current fiscal year.

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RRGB has been the subject of several recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, August 9th. TheStreet upgraded Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research report on Thursday, May 18th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, May 19th. Maxim Group restated a “buy” rating and issued a $80.00 target price (up previously from $75.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 17th. Finally, BTIG Research upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.80.

In other news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total value of $211,522.80. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at approximately $470,074.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Glenn B. Kaufman sold 4,000 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $72.25, for a total value of $289,000.00. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

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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