Red Robin Gourmet Burgers Sees Unusually High Options Volume (NASDAQ:RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) saw unusually large options trading activity on Thursday. Investors bought 2,352 put options on the stock. This represents an increase of 1,082% compared to the average daily volume of 199 put options.

In other news, major shareholder Vintage Capital Management Llc bought 203,336 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $25.97 per share, for a total transaction of $5,280,635.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn B. Kaufman bought 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $26.00 per share, with a total value of $52,000.00. Following the completion of the acquisition, the director now owns 29,733 shares of the company’s stock, valued at $773,058. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 206,336 shares of company stock valued at $5,359,136. Corporate insiders own 2.08% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Red Robin Gourmet Burgers by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 141,425 shares of the restaurant operator’s stock valued at $3,778,000 after acquiring an additional 2,086 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $3,132,000. Rhumbline Advisers raised its position in Red Robin Gourmet Burgers by 20.6% during the fourth quarter. Rhumbline Advisers now owns 38,446 shares of the restaurant operator’s stock valued at $1,027,000 after acquiring an additional 6,563 shares in the last quarter. BlackRock Inc. raised its position in Red Robin Gourmet Burgers by 2.7% during the fourth quarter. BlackRock Inc. now owns 1,902,567 shares of the restaurant operator’s stock valued at $50,837,000 after acquiring an additional 50,492 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Red Robin Gourmet Burgers by 219.0% during the fourth quarter. Prudential Financial Inc. now owns 177,095 shares of the restaurant operator’s stock valued at $4,732,000 after acquiring an additional 121,578 shares in the last quarter.

NASDAQ RRGB opened at $33.48 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.44 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $330.12 million, a PE ratio of 19.35, a P/E/G ratio of 2.09 and a beta of 1.02. Red Robin Gourmet Burgers has a 52-week low of $24.57 and a 52-week high of $54.95.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Thursday, May 30th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.29). The company had revenue of $409.87 million during the quarter, compared to analysts’ expectations of $408.98 million. Red Robin Gourmet Burgers had a positive return on equity of 4.14% and a negative net margin of 0.77%. Red Robin Gourmet Burgers’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Sell-side analysts predict that Red Robin Gourmet Burgers will post 1.26 EPS for the current fiscal year.

RRGB has been the subject of a number of research analyst reports. Maxim Group reissued a “hold” rating and issued a $25.00 price target (down from $29.00) on shares of Red Robin Gourmet Burgers in a research report on Thursday, April 4th. Raymond James reissued a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, April 4th. Morgan Stanley reduced their price target on shares of Red Robin Gourmet Burgers from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. ValuEngine raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Bank of America lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. Red Robin Gourmet Burgers has a consensus rating of “Hold” and an average target price of $41.00.

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Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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