Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.60 and traded as high as $7.86. Red Robin Gourmet Burgers shares last traded at $7.84, with a volume of 170,524 shares traded.

Wall Street Analyst Weigh In

RRGB has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. UBS Group set a $8.00 target price on Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Wall Street Zen upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Benchmark reaffirmed a “buy” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.67.

Red Robin Gourmet Burgers Stock Performance

The firm has a market capitalization of $145.04 million, a PE ratio of -5.23 and a beta of 2.38. The stock’s 50 day simple moving average is $6.25 and its two-hundred day simple moving average is $4.60.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The firm had revenue of $378.26 million during the quarter, compared to analyst estimates of $273.29 million. Equities research analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Red Robin Gourmet Burgers by 1.5% during the 2nd quarter. Bank of America Corp DE now owns 182,565 shares of the restaurant operator’s stock worth $1,057,000 after acquiring an additional 2,697 shares during the period. AdvisorShares Investments LLC grew its holdings in shares of Red Robin Gourmet Burgers by 10.4% in the fourth quarter. AdvisorShares Investments LLC now owns 29,146 shares of the restaurant operator’s stock valued at $118,000 after purchasing an additional 2,746 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 4,487 shares during the period. Dimensional Fund Advisors LP increased its position in Red Robin Gourmet Burgers by 27.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,086 shares of the restaurant operator’s stock worth $86,000 after purchasing an additional 4,563 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Red Robin Gourmet Burgers by 3.6% during the fourth quarter. Renaissance Technologies LLC now owns 172,666 shares of the restaurant operator’s stock worth $699,000 after purchasing an additional 5,923 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.