Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Free Report) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 2,230,000 shares, a decline of 17.1% from the June 30th total of 2,690,000 shares. Currently, 14.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 433,600 shares, the days-to-cover ratio is currently 5.1 days.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Monday, April 15th. Craig Hallum assumed coverage on Red Robin Gourmet Burgers in a research note on Thursday, April 25th. They set a “buy” rating and a $20.00 target price on the stock. StockNews.com lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Lake Street Capital raised their target price on Red Robin Gourmet Burgers from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.00.
Check Out Our Latest Stock Report on RRGB
Insider Activity at Red Robin Gourmet Burgers
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Red Robin Gourmet Burgers in the first quarter worth about $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of Red Robin Gourmet Burgers by 122.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 1,435 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Red Robin Gourmet Burgers by 57.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock worth $85,000 after acquiring an additional 2,491 shares during the last quarter. Virtu Financial LLC purchased a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $149,000. Finally, Quadrature Capital Ltd purchased a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $166,000. 84.04% of the stock is owned by institutional investors.
Red Robin Gourmet Burgers Stock Performance
Shares of RRGB stock traded up $0.01 during trading on Friday, hitting $5.77. The company’s stock had a trading volume of 360,776 shares, compared to its average volume of 560,616. The business has a fifty day moving average of $7.07 and a 200-day moving average of $7.82. Red Robin Gourmet Burgers has a 52 week low of $5.46 and a 52 week high of $14.63.
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last posted its earnings results on Wednesday, May 29th. The restaurant operator reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.39). The business had revenue of $388.54 million during the quarter, compared to analysts’ expectations of $397.08 million. As a group, sell-side analysts expect that Red Robin Gourmet Burgers will post -1.79 earnings per share for the current year.
Red Robin Gourmet Burgers Company Profile
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.
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