Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Shares Sold by Archon Capital Management LLC

Archon Capital Management LLC cut its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,334 shares of the restaurant operator's stock after selling 180,945 shares during the quarter. Red Robin Gourmet Burgers accounts for approximately 1.6% of Archon Capital Management LLC's investment portfolio, making the stock its 24th largest position. Archon Capital Management LLC owned 1.73% of Red Robin Gourmet Burgers worth $1,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. R Squared Ltd bought a new stake in Red Robin Gourmet Burgers during the fourth quarter worth approximately $52,000. Wolverine Trading LLC bought a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter worth about $55,000. Raymond James Financial Inc. acquired a new position in Red Robin Gourmet Burgers during the 4th quarter valued at approximately $63,000. XTX Topco Ltd lifted its stake in shares of Red Robin Gourmet Burgers by 139.9% during the third quarter. XTX Topco Ltd now owns 79,246 shares of the restaurant operator's stock worth $349,000 after buying an additional 46,219 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Red Robin Gourmet Burgers by 101.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 71,032 shares of the restaurant operator's stock valued at $390,000 after purchasing an additional 35,767 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Trading Up 2.4 %

RRGB traded up $0.07 on Thursday, hitting $2.74. 237,470 shares of the company's stock were exchanged, compared to its average volume of 425,807. The firm has a 50-day moving average price of $4.20 and a 200-day moving average price of $5.06. The stock has a market cap of $47.77 million, a price-to-earnings ratio of -0.83 and a beta of 2.47. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.44). The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.20 million. During the same period in the previous year, the business earned ($0.66) EPS. On average, equities analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gerard Johan Hart sold 8,627 shares of Red Robin Gourmet Burgers stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $4.16, for a total transaction of $35,888.32. Following the sale, the chief executive officer now owns 556,225 shares in the company, valued at approximately $2,313,896. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 52,759 shares of company stock worth $227,353 over the last 90 days. Corporate insiders own 3.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RRGB shares. CL King upgraded shares of Red Robin Gourmet Burgers from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, February 27th. StockNews.com downgraded shares of Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a research report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Red Robin Gourmet Burgers presently has an average rating of "Moderate Buy" and an average target price of $13.38.

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.