Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Passes Above 200 Day Moving Average – Here’s Why

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.15 and traded as high as $6.53. Red Robin Gourmet Burgers shares last traded at $6.28, with a volume of 160,108 shares trading hands.

Red Robin Gourmet Burgers Trading Down 2.9 %

The firm has a market capitalization of $109.21 million, a PE ratio of -1.91 and a beta of 2.64. The business has a 50-day moving average of $5.47 and a 200 day moving average of $5.15.

Insider Activity at Red Robin Gourmet Burgers

In related news, insider Jumana Capital Investments Llc purchased 800,454 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $5.19 per share, with a total value of $4,154,356.26. Following the transaction, the insider now owns 1,614,906 shares of the company’s stock, valued at $8,381,362.14. This represents a 98.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 845,704 shares of company stock valued at $4,388,954. 3.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several large investors have recently made changes to their positions in RRGB. GSA Capital Partners LLP increased its position in shares of Red Robin Gourmet Burgers by 482.8% during the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after purchasing an additional 526,016 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter valued at $2,777,000. Verition Fund Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at $1,082,000. Marshall Wace LLP increased its position in shares of Red Robin Gourmet Burgers by 188.9% during the 2nd quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock valued at $2,790,000 after purchasing an additional 240,954 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at $537,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.