Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Shares Sold by Virtu Financial LLC

Virtu Financial LLC lessened its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,093 shares of the restaurant operator’s stock after selling 5,279 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of Red Robin Gourmet Burgers worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in Red Robin Gourmet Burgers during the 2nd quarter valued at about $25,000. Point72 DIFC Ltd purchased a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $55,000. Quantbot Technologies LP acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth approximately $34,000. Wolverine Trading LLC purchased a new stake in Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $55,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at $172,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

RRGB has been the topic of several recent research reports. Lake Street Capital reduced their price objective on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock 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 on the stock in a report on Friday, August 23rd.

Insider Activity at Red Robin Gourmet Burgers

In related news, insider Jumana Capital Investments Llc bought 800,454 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the acquisition, the insider now owns 1,614,906 shares in the company, valued at $8,381,362.14. This trade represents a 98.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders acquired 846,597 shares of company stock worth $4,393,946. 3.19% of the stock is currently owned by insiders.

Red Robin Gourmet Burgers Stock Up 6.0 %

Shares of Red Robin Gourmet Burgers stock opened at $5.31 on Friday. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $12.80. The business’s fifty day moving average is $5.53 and its two-hundred day moving average is $5.52. The firm has a market cap of $83.78 million, a PE ratio of -1.61 and a beta of 2.68.

About Red Robin Gourmet Burgers

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.