Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded to "Buy" at CL King

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) was upgraded by investment analysts at CL King from a "neutral" rating to a "buy" rating in a research note issued to investors on Thursday, Marketbeat reports. The firm presently has a $10.00 target price on the restaurant operator's stock. CL King's target price would suggest a potential upside of 105.34% from the company's previous close.

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB traded down $0.76 during trading on Thursday, reaching $4.87. The company's stock had a trading volume of 638,819 shares, compared to its average volume of 414,975. Red Robin Gourmet Burgers has a 12 month low of $2.97 and a 12 month high of $9.20. The firm has a market cap of $85.06 million, a price-to-earnings ratio of -1.48 and a beta of 2.65. The firm has a 50 day moving average of $5.50 and a 200-day moving average of $5.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.44). The business had revenue of $285.23 million for the quarter, compared to analysts' expectations of $285.20 million. During the same quarter last year, the firm posted ($0.66) EPS. Equities research analysts forecast that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current fiscal year.

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Insiders Place Their Bets

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc acquired 800,454 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the transaction, the insider now owns 1,614,906 shares of the company's stock, valued at approximately $8,381,362.14. This represents a 98.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.19% of the company's stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several hedge funds have recently bought and sold shares of RRGB. GSA Capital Partners LLP raised its position in Red Robin Gourmet Burgers by 482.8% during the third quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator's stock valued at $2,800,000 after purchasing an additional 526,016 shares in the last quarter. Verition Fund Management LLC purchased a new position in Red Robin Gourmet Burgers in the 3rd quarter worth approximately $1,082,000. Geode Capital Management LLC raised its holdings in Red Robin Gourmet Burgers by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 194,316 shares of the restaurant operator's stock valued at $857,000 after buying an additional 21,062 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Red Robin Gourmet Burgers in the third quarter worth about $34,000. Finally, XTX Topco Ltd grew its position in shares of Red Robin Gourmet Burgers by 139.9% in the 3rd 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 last quarter. 84.04% of the stock is currently owned by institutional investors.

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.