Zacks Research Has Bearish Forecast for RRGB FY2024 Earnings

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) - Stock analysts at Zacks Research lowered their FY2024 earnings per share estimates for shares of Red Robin Gourmet Burgers in a report released on Tuesday, February 11th. Zacks Research analyst M. Kaushik now anticipates that the restaurant operator will earn ($2.96) per share for the year, down from their previous forecast of ($2.93). The consensus estimate for Red Robin Gourmet Burgers' current full-year earnings is ($2.93) per share. Zacks Research also issued estimates for Red Robin Gourmet Burgers' Q4 2024 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($1.75) EPS, Q1 2026 earnings at $0.21 EPS and FY2026 earnings at ($0.60) EPS.

Red Robin Gourmet Burgers Trading Up 0.2 %

RRGB stock traded up $0.01 during mid-day trading on Friday, hitting $5.01. The stock had a trading volume of 316,532 shares, compared to its average volume of 289,452. Red Robin Gourmet Burgers has a 1-year low of $2.97 and a 1-year high of $9.77. The company has a fifty day moving average of $5.54 and a 200 day moving average of $5.12. The stock has a market capitalization of $87.13 million, a price-to-earnings ratio of -1.52 and a beta of 2.65.

Insiders Place Their Bets

In other news, insider Jumana Capital Investments Llc bought 800,454 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $5.19 per share, with a total value of $4,154,356.26. Following the transaction, the insider now directly owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JCP Investment Management LLC increased its holdings in shares of Red Robin Gourmet Burgers by 281.6% during the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator's stock valued at $10,215,000 after acquiring an additional 1,373,077 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator's stock valued at $5,872,000 after acquiring an additional 85,518 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Red Robin Gourmet Burgers by 482.8% during the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator's stock valued at $2,800,000 after acquiring an additional 526,016 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Red Robin Gourmet Burgers by 112.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator's stock valued at $2,166,000 after acquiring an additional 208,862 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at about $1,082,000. Institutional investors and hedge funds 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.