Bank of America Corp DE Has $490,000 Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Bank of America Corp DE lifted its holdings in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) by 113.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,298 shares of the restaurant operator's stock after buying an additional 47,550 shares during the period. Bank of America Corp DE owned about 0.51% of Red Robin Gourmet Burgers worth $490,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Red Robin Gourmet Burgers by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 98,793 shares of the restaurant operator's stock worth $542,000 after purchasing an additional 2,730 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Red Robin Gourmet Burgers by 11.9% during the fourth quarter. Northern Trust Corp now owns 32,258 shares of the restaurant operator's stock worth $177,000 after purchasing an additional 3,427 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Red Robin Gourmet Burgers by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 198,525 shares of the restaurant operator's stock valued at $1,090,000 after buying an additional 4,209 shares during the period. Barclays PLC raised its holdings in Red Robin Gourmet Burgers by 489.6% in the 4th quarter. Barclays PLC now owns 12,270 shares of the restaurant operator's stock valued at $67,000 after buying an additional 10,189 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Red Robin Gourmet Burgers during the 4th quarter worth approximately $63,000. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RRGB. Wall Street Zen cut shares of Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a research report on Saturday, March 8th. CL King raised shares of Red Robin Gourmet Burgers from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, Red Robin Gourmet Burgers has a consensus rating of "Moderate Buy" and an average price target of $13.38.

Red Robin Gourmet Burgers Stock Performance

Shares of NASDAQ RRGB traded down $0.46 during midday trading on Friday, reaching $4.92. The stock had a trading volume of 509,522 shares, compared to its average volume of 585,047. The company's 50 day moving average price is $3.54 and its 200 day moving average price is $4.56. Red Robin Gourmet Burgers, Inc. has a twelve month low of $2.50 and a twelve month high of $8.18. The firm has a market cap of $87.26 million, a price-to-earnings ratio of -1.50 and a beta of 2.38.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its earnings results on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.76. The firm had revenue of $392.35 million during the quarter, compared to analyst estimates of $388.77 million. During the same quarter in the previous year, the firm earned ($0.80) EPS. Equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, CEO Gerard Johan Hart sold 11,467 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.39, for a total value of $50,340.13. Following the completion of the sale, the chief executive officer now directly owns 575,270 shares in the company, valued at approximately $2,525,435.30. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 37,610 shares of company stock worth $159,788 in the last 90 days. Corporate insiders own 3.19% of the company's stock.

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.