Credit Suisse AG cut its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 15.9% during the first quarter, Holdings Channel reports. The institutional investor owned 25,032 shares of the restaurant operator’s stock after selling 4,738 shares during the period. Credit Suisse AG’s holdings in Red Robin Gourmet Burgers were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock valued at $142,000 after buying an additional 1,037 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Red Robin Gourmet Burgers by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,007 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 197 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Red Robin Gourmet Burgers during the first quarter valued at approximately $196,000. Financial Advisory Service Inc. acquired a new position in shares of Red Robin Gourmet Burgers during the first quarter valued at approximately $241,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Red Robin Gourmet Burgers by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,218 shares of the restaurant operator’s stock valued at $247,000 after buying an additional 51 shares in the last quarter.

Shares of Red Robin Gourmet Burgers, Inc. (RRGB) traded down 1.26% during mid-day trading on Tuesday, hitting $58.55. The stock had a trading volume of 24,389 shares. Red Robin Gourmet Burgers, Inc. has a 52 week low of $40.85 and a 52 week high of $74.11. The stock has a market capitalization of $756.88 million, a P/E ratio of 90.78 and a beta of 0.62. The stock has a 50 day moving average of $62.28 and a 200-day moving average of $58.70.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.75 earnings per share for the current year.

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Several research analysts have commented on the company. Raymond James Financial, Inc. set a $75.00 price target on Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. TheStreet lowered Red Robin Gourmet Burgers from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Maxim Group reissued a “buy” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, August 9th. Finally, BidaskClub raised Red Robin Gourmet Burgers from a “strong sell” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $72.80.

In other Red Robin Gourmet Burgers news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total transaction of $211,522.80. Following the transaction, the director now owns 6,547 shares in the company, valued at approximately $470,074.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Glenn B. Kaufman sold 4,000 shares of the firm’s stock in a transaction 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. 2.66% of the stock is owned by company insiders.

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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