Simcoe Capital LLC Buys New Shares in Red Robin Gourmet Burgers, Inc. $RRGB

Simcoe Capital LLC bought a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 491,157 shares of the restaurant operator’s stock, valued at approximately $1,989,000. Red Robin Gourmet Burgers accounts for approximately 1.9% of Simcoe Capital LLC’s holdings, making the stock its 28th largest position. Simcoe Capital LLC owned about 2.73% of Red Robin Gourmet Burgers at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RRGB. BNP Paribas Financial Markets lifted its stake in shares of 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 valued at $31,000 after buying an additional 4,487 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Red Robin Gourmet Burgers by 152.6% in the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 6,075 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Red Robin Gourmet Burgers in the first quarter valued at about $61,000. Jane Street Group LLC bought a new stake in shares of Red Robin Gourmet Burgers in the first quarter valued at about $69,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Red Robin Gourmet Burgers in the third quarter valued at about $70,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Benchmark reduced their target price on shares of Red Robin Gourmet Burgers from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.50.

Red Robin Gourmet Burgers Stock Up 1.7%

Shares of RRGB opened at $3.65 on Wednesday. The stock has a market cap of $66.19 million, a price-to-earnings ratio of -2.79 and a beta of 2.36. Red Robin Gourmet Burgers, Inc. has a 12 month low of $2.45 and a 12 month high of $7.89. The company has a 50-day moving average price of $3.56 and a two-hundred day moving average price of $3.96.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Wednesday, February 25th. The restaurant operator reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.13). The business had revenue of $269.04 million for the quarter, compared to analysts’ expectations of $264.26 million. Equities research analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.43 EPS for the current fiscal year.

Red Robin Gourmet Burgers 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.