Pacific Ridge Capital Partners LLC Boosts Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Pacific Ridge Capital Partners LLC boosted its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 911,005 shares of the restaurant operator's stock after buying an additional 143,957 shares during the quarter. Red Robin Gourmet Burgers accounts for approximately 1.7% of Pacific Ridge Capital Partners LLC's holdings, making the stock its 13th biggest position. Pacific Ridge Capital Partners LLC owned approximately 5.81% of Red Robin Gourmet Burgers worth $6,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RRGB. Millennium Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter valued at about $2,777,000. Western Standard LLC purchased a new stake in Red Robin Gourmet Burgers during the first quarter valued at approximately $2,156,000. Marshall Wace LLP raised its position in 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 acquiring an additional 240,954 shares during the period. Fund 1 Investments LLC boosted its stake in shares of Red Robin Gourmet Burgers by 253.0% during the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator's stock worth $3,796,000 after acquiring an additional 218,187 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC bought a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter valued at $1,135,000. Institutional investors own 84.04% of the company's stock.

Red Robin Gourmet Burgers Trading Down 3.7 %

Shares of Red Robin Gourmet Burgers stock traded down $0.17 during trading hours on Friday, reaching $4.39. The stock had a trading volume of 206,260 shares, compared to its average volume of 680,353. Red Robin Gourmet Burgers, Inc. has a twelve month low of $2.97 and a twelve month high of $12.80. The firm has a market capitalization of $69.14 million, a PE ratio of -2.49 and a beta of 2.74. The stock's 50 day moving average is $4.49 and its 200 day moving average is $6.16.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on RRGB. Benchmark cut their price objective on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, August 20th. Craig Hallum reduced their price objective on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a "buy" rating on the stock in a research report on Friday, August 23rd. Finally, Lake Street Capital dropped their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.13.

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.