Short Interest in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Increases By 25.0%

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 2,800,000 shares, a growth of 25.0% from the September 30th total of 2,240,000 shares. Currently, 19.3% of the company's shares are sold short. Based on an average daily volume of 610,800 shares, the days-to-cover ratio is currently 4.6 days.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its stake in Red Robin Gourmet Burgers by 2.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,006,937 shares of the restaurant operator's stock valued at $7,623,000 after acquiring an additional 20,100 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in Red Robin Gourmet Burgers by 18.8% during the second quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator's stock valued at $6,896,000 after purchasing an additional 143,957 shares during the period. Acuitas Investments LLC boosted its holdings in Red Robin Gourmet Burgers by 9.0% in the second quarter. Acuitas Investments LLC now owns 610,193 shares of the restaurant operator's stock worth $4,619,000 after purchasing an additional 50,172 shares during the last quarter. Marshall Wace LLP grew its position in Red Robin Gourmet Burgers by 188.9% in the 2nd quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator's stock worth $2,790,000 after purchasing an additional 240,954 shares during the period. Finally, Millennium Management LLC purchased a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at $2,777,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Trading Up 1.2 %

NASDAQ:RRGB traded up $0.07 during trading hours on Wednesday, reaching $6.04. 214,266 shares of the company traded hands, compared to its average volume of 438,494. Red Robin Gourmet Burgers has a 1 year low of $2.97 and a 1 year high of $12.80. The stock has a market capitalization of $95.13 million, a P/E ratio of -2.29 and a beta of 2.75. The business's 50-day moving average price is $4.51 and its two-hundred day moving average price is $5.95.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The restaurant operator reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The company had revenue of $300.15 million for the quarter, compared to the consensus estimate of $295.57 million. During the same quarter last year, the business earned ($0.24) earnings per share. As a group, equities analysts anticipate that Red Robin Gourmet Burgers will post -2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Benchmark reduced their target price on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, August 20th. Craig Hallum lowered their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a "buy" rating for the company in a research report on Friday, August 23rd. Finally, Lake Street Capital decreased their price target on shares of Red Robin Gourmet Burgers from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, August 23rd.

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.