Red Robin Gourmet Burgers (NASDAQ:RRGB) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Red Robin Gourmet Burgers (NASDAQ:RRGB) announced its earnings results on Wednesday. The restaurant operator reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.26), reports. The company had revenue of $274.64 million during the quarter, compared to the consensus estimate of $271.64 million. Red Robin Gourmet Burgers updated its FY 2024 guidance to EPS.

Red Robin Gourmet Burgers Stock Down 15.0 %

Shares of Red Robin Gourmet Burgers stock opened at $5.20 on Friday. The company has a market capitalization of $81.90 million, a price-to-earnings ratio of -1.99 and a beta of 2.71. The stock’s 50-day simple moving average is $4.75 and its 200-day simple moving average is $5.94. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $12.80.

Wall Street Analyst Weigh In

RRGB has been the subject of a number of analyst reports. Lake Street Capital reduced their price target on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Craig Hallum reduced their target price on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Benchmark decreased their target price on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th.

Insider Buying and Selling

In related news, insider Jumana Capital Investments Llc purchased 45,000 shares of Red Robin Gourmet Burgers stock in a transaction on Thursday, November 7th. The shares were bought at an average cost of $5.18 per share, for a total transaction of $233,100.00. Following the acquisition, the insider now owns 814,452 shares in the company, valued at approximately $4,218,861.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders acquired 46,143 shares of company stock worth $239,589. 3.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 2.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,006,937 shares of the restaurant operator’s stock worth $7,623,000 after acquiring an additional 20,100 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Red Robin Gourmet Burgers by 18.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after purchasing an additional 143,957 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Red Robin Gourmet Burgers by 482.8% during the third quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after buying an additional 526,016 shares during the period. Acuitas Investments LLC grew its stake in shares of Red Robin Gourmet Burgers by 9.0% during the second quarter. Acuitas Investments LLC now owns 610,193 shares of the restaurant operator’s stock valued at $4,619,000 after buying an additional 50,172 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Red Robin Gourmet Burgers by 188.9% in the second quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock worth $2,790,000 after buying an additional 240,954 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.