Red Robin Gourmet Burgers (NASDAQ:RRGB) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a hold rating to a sell rating in a research report released on Thursday morning.

Separately, Benchmark restated a buy rating and set a $18.00 price target on shares of Red Robin Gourmet Burgers in a research note on Monday.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB opened at $6.00 on Thursday. Red Robin Gourmet Burgers has a one year low of $5.56 and a one year high of $16.50. The stock has a 50-day moving average of $7.57 and a 200-day moving average of $9.04.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The firm had revenue of $309.00 million during the quarter, compared to the consensus estimate of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. As a group, analysts forecast that Red Robin Gourmet Burgers will post -1.61 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Red Robin Gourmet Burgers by 0.5% during the first quarter. BlackRock Inc. now owns 2,441,027 shares of the restaurant operator’s stock worth $41,155,000 after buying an additional 12,397 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Red Robin Gourmet Burgers by 17.7% during the 4th quarter. First Eagle Investment Management LLC now owns 889,413 shares of the restaurant operator’s stock worth $11,091,000 after acquiring an additional 133,787 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Red Robin Gourmet Burgers by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 873,734 shares of the restaurant operator’s stock worth $5,880,000 after acquiring an additional 110,626 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Red Robin Gourmet Burgers by 23.0% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock valued at $7,951,000 after purchasing an additional 119,351 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Red Robin Gourmet Burgers by 6.3% during the first quarter. State Street Corp now owns 553,487 shares of the restaurant operator’s stock valued at $9,332,000 after purchasing an additional 32,967 shares in the last quarter. 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.