A.R.T. Advisors LLC Purchases Shares of 35,311 Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

A.R.T. Advisors LLC acquired a new position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,311 shares of the restaurant operator’s stock, valued at approximately $1,079,000. A.R.T. Advisors LLC owned approximately 0.27% of Red Robin Gourmet Burgers at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in RRGB. BlackRock Inc. increased its stake in shares of Red Robin Gourmet Burgers by 3.0% in the 2nd quarter. BlackRock Inc. now owns 1,954,553 shares of the restaurant operator’s stock worth $59,751,000 after acquiring an additional 57,126 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Red Robin Gourmet Burgers by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,101,985 shares of the restaurant operator’s stock worth $29,445,000 after purchasing an additional 5,459 shares during the period. Investment Counselors of Maryland LLC grew its holdings in shares of Red Robin Gourmet Burgers by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 583,364 shares of the restaurant operator’s stock worth $17,833,000 after purchasing an additional 6,377 shares during the period. Prudential Financial Inc. grew its holdings in shares of Red Robin Gourmet Burgers by 4.5% during the 2nd quarter. Prudential Financial Inc. now owns 251,807 shares of the restaurant operator’s stock worth $7,698,000 after purchasing an additional 10,810 shares during the period. Finally, B. Riley Financial Inc. grew its holdings in shares of Red Robin Gourmet Burgers by 1,355.3% during the 2nd quarter. B. Riley Financial Inc. now owns 218,301 shares of the restaurant operator’s stock worth $6,673,000 after purchasing an additional 203,301 shares during the period.

RRGB has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “sell” rating to a “strong-buy” rating and set a $35.00 target price for the company in a report on Monday, August 5th. Stephens set a $36.00 target price on Red Robin Gourmet Burgers and gave the company a “buy” rating in a report on Monday, August 26th. Raymond James restated a “hold” rating on shares of Red Robin Gourmet Burgers in a report on Friday, September 6th. Finally, Bank of America cut Red Robin Gourmet Burgers from a “neutral” rating to an “underperform” rating and set a $30.00 target price for the company. in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Red Robin Gourmet Burgers presently has an average rating of “Hold” and a consensus target price of $35.00.

RRGB opened at $32.50 on Friday. The business’s 50 day moving average is $33.52 and its two-hundred day moving average is $31.42. Red Robin Gourmet Burgers, Inc. has a 52 week low of $24.57 and a 52 week high of $41.15. The firm has a market cap of $439.47 million, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.25 and a beta of 1.21. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 1.85.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Friday, August 23rd. The restaurant operator reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.72. The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $306.39 million. Red Robin Gourmet Burgers had a positive return on equity of 6.18% and a negative net margin of 0.55%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Equities analysts expect that Red Robin Gourmet Burgers, Inc. will post 1.08 EPS for the current fiscal year.

Red Robin Gourmet Burgers Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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