Millennium Management LLC Acquires Shares of 366,812 Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Millennium Management LLC acquired a new position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 366,812 shares of the restaurant operator's stock, valued at approximately $2,777,000. Millennium Management LLC owned approximately 2.34% of Red Robin Gourmet Burgers at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RRGB. Western Standard LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth approximately $2,156,000. Marshall Wace LLP increased its stake in shares of Red Robin Gourmet Burgers by 188.9% during 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 in the last quarter. Resolute Capital Asset Partners LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $1,135,000. Pacific Ridge Capital Partners LLC increased its stake in shares of Red Robin Gourmet Burgers by 20.3% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 767,048 shares of the restaurant operator's stock worth $5,876,000 after purchasing an additional 129,460 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Red Robin Gourmet Burgers by 11.0% during the 1st quarter. First Eagle Investment Management LLC now owns 986,837 shares of the restaurant operator's stock worth $7,559,000 after purchasing an additional 97,424 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Stock Up 3.2 %

Shares of NASDAQ RRGB traded up $0.18 during trading on Tuesday, hitting $5.76. 271,359 shares of the company traded hands, compared to its average volume of 444,081. Red Robin Gourmet Burgers, Inc. has a 1 year low of $2.97 and a 1 year high of $12.80. The company has a 50-day moving average price of $4.29 and a 200-day moving average price of $5.99. The firm has a market capitalization of $90.34 million, a P/E ratio of -3.27 and a beta of 2.75.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The firm had revenue of $300.15 million for the quarter, compared to the consensus estimate of $295.57 million. During the same period in the previous year, the company earned ($0.24) earnings per share. Research analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.