Bank of America Corp DE Purchases 47,550 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Bank of America Corp DE boosted its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) by 113.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 89,298 shares of the restaurant operator's stock after purchasing 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 SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC grew its position in shares of Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator's stock valued at $5,872,000 after acquiring an additional 85,518 shares during the period. Bandera Partners LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter valued at approximately $1,260,000. Geode Capital Management LLC lifted its stake in shares of Red Robin Gourmet Burgers by 2.2% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Red Robin Gourmet Burgers by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 98,793 shares of the restaurant operator's stock valued at $542,000 after buying an additional 2,730 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Red Robin Gourmet Burgers by 101.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 71,032 shares of the restaurant operator's stock valued at $390,000 after buying an additional 35,767 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a research note on Saturday, March 8th. CL King upgraded shares of Red Robin Gourmet Burgers from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.38.

Insider Activity

In other news, CEO Gerard Johan Hart sold 10,418 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $4.16, for a total transaction of $43,338.88. Following the sale, the chief executive officer now owns 564,852 shares in the company, valued at $2,349,784.32. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 37,610 shares of company stock worth $159,788 over the last 90 days. 3.19% of the stock is currently owned by insiders.

Red Robin Gourmet Burgers Trading Down 9.9%

Shares of NASDAQ:RRGB traded down $0.53 during trading on Friday, reaching $4.85. The company had a trading volume of 745,121 shares, compared to its average volume of 589,120. The company has a fifty day moving average of $3.57 and a two-hundred day moving average of $4.56. The stock has a market capitalization of $86.02 million, a P/E ratio of -1.47 and a beta of 2.39. Red Robin Gourmet Burgers, Inc. has a 12 month low of $2.50 and a 12 month high of $8.18.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its earnings results on Thursday, May 29th. The restaurant operator reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.57) by $0.76. The business had revenue of $392.35 million for the quarter, compared to the consensus estimate of $388.77 million. During the same period in the prior year, the business posted ($0.80) EPS. As a group, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current year.

Red Robin Gourmet Burgers Company Profile

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.