Crawford Lake Capital Management LLC Buys Shares of 31,933 Red Robin Gourmet Burgers, Inc. (RRGB)

Crawford Lake Capital Management LLC bought a new stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 31,933 shares of the restaurant operator’s stock, valued at approximately $2,084,000. Crawford Lake Capital Management LLC owned about 0.25% of Red Robin Gourmet Burgers as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Red Robin Gourmet Burgers by 43,842.6% during the 1st quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after purchasing an additional 1,557,726 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Red Robin Gourmet Burgers by 29.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after purchasing an additional 246,178 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Red Robin Gourmet Burgers by 772.5% during the 1st quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after purchasing an additional 682,062 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Red Robin Gourmet Burgers by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 668,118 shares of the restaurant operator’s stock valued at $39,052,000 after purchasing an additional 30,946 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Red Robin Gourmet Burgers by 2.0% during the 1st quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after purchasing an additional 10,250 shares during the last quarter.

RRGB has been the topic of several analyst reports. Bank of America Corporation boosted their target price on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Stephens restated an “overweight” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, May 19th. Morgan Stanley restated an “equal weight” rating and set a $58.00 price objective (up previously from $53.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 17th. Finally, BidaskClub cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $72.80.

Shares of Red Robin Gourmet Burgers, Inc. (RRGB) traded up 1.73% during midday trading on Tuesday, hitting $58.85. The company’s stock had a trading volume of 80,327 shares. The firm has a market cap of $760.75 million, a price-to-earnings ratio of 91.24 and a beta of 0.63. Red Robin Gourmet Burgers, Inc. has a 12-month low of $40.85 and a 12-month high of $74.11. The firm has a 50-day moving average of $58.59 and a 200 day moving average of $60.17.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The business had revenue of $315.80 million during the quarter, compared to analyst estimates of $315.69 million. During the same period last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.77 EPS for the current fiscal year.

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In other news, CFO Guy J. Constant purchased 2,500 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $58.88 per share, for a total transaction of $147,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

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

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