Red Robin Gourmet Burgers (NASDAQ:RRGB) Now Covered by Craig Hallum

Craig Hallum assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $20.00 target price on the restaurant operator’s stock.

A number of other research firms also recently commented on RRGB. StockNews.com downgraded Red Robin Gourmet Burgers from a hold rating to a sell rating in a report on Thursday, April 18th. Benchmark reaffirmed a buy rating and issued a $18.00 price objective on shares of Red Robin Gourmet Burgers in a report on Monday, April 15th.

Red Robin Gourmet Burgers Price Performance

RRGB stock opened at $6.90 on Thursday. Red Robin Gourmet Burgers has a one year low of $5.56 and a one year high of $16.50. The firm has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $9.00.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, February 28th. The restaurant operator reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The business had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $304.73 million. Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. Equities research analysts expect that Red Robin Gourmet Burgers will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several large investors have recently made changes to their positions in RRGB. First Eagle Investment Management LLC raised its stake in shares of Red Robin Gourmet Burgers by 70.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator’s stock worth $6,075,000 after buying an additional 313,373 shares during the period. Fund 1 Investments LLC raised its position in Red Robin Gourmet Burgers by 253.0% during the fourth 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 period. Pacific Ridge Capital Partners LLC lifted its holdings in Red Robin Gourmet Burgers by 23.0% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock valued at $7,951,000 after purchasing an additional 119,351 shares in the last quarter. Acuitas Investments LLC grew its position in shares of Red Robin Gourmet Burgers by 30.5% in the fourth quarter. Acuitas Investments LLC now owns 470,206 shares of the restaurant operator’s stock valued at $5,863,000 after purchasing an additional 109,809 shares during the period. Finally, RK Capital Management LLC increased its stake in shares of Red Robin Gourmet Burgers by 14.1% during the third quarter. RK Capital Management LLC now owns 390,900 shares of the restaurant operator’s stock worth $3,143,000 after purchasing an additional 48,300 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.