Mink Brook Asset Management LLC Buys Shares of 459,452 Red Robin Gourmet Burgers, Inc. $RRGB

Key Points

• Mink Brook Asset Management purchased 459,452 shares (~$3.15M) of Red Robin in Q3, making the stock its 14th largest holding and representing about 2.56% ownership of RRGB.
• Red Robin reported Q1 EPS of -$0.41, missing the -$0.28 estimate while slightly beating revenue ($269.0M vs $264.3M); the stock trades around $3.27 with a market cap of about $59.1M and a 52-week range of $2.50–$7.89.
• Institutional investors own roughly 84.0% of the shares and analyst coverage is mixed—two Buys, one Hold, one Sell—producing a consensus "Hold" and an average price target of $9.50.

Mink Brook Asset Management LLC purchased a new position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 459,452 shares of the restaurant operator's stock, valued at approximately $3,152,000. Red Robin Gourmet Burgers comprises approximately 2.1% of Mink Brook Asset Management LLC's portfolio, making the stock its 14th largest position. Mink Brook Asset Management LLC owned 2.56% of Red Robin Gourmet Burgers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Red Robin Gourmet Burgers by 503.0% in the 2nd 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 last quarter. Osaic Holdings Inc. boosted its stake in Red Robin Gourmet Burgers by 152.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator's stock worth $58,000 after purchasing an additional 6,075 shares during the last quarter. Granite Investment Partners LLC acquired a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth $73,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth $76,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Red Robin Gourmet Burgers in the third quarter valued at about $114,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Stock Down 3.0%

Shares of NASDAQ:RRGB opened at $3.27 on Tuesday. The business has a fifty day moving average of $3.90 and a two-hundred day moving average of $4.85. The stock has a market cap of $59.09 million, a P/E ratio of -2.50 and a beta of 2.22. Red Robin Gourmet Burgers, Inc. has a 52-week low of $2.50 and a 52-week high of $7.89.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The restaurant operator reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.13). The firm had revenue of $269.04 million during the quarter, compared to analyst estimates of $264.26 million. On average, equities analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RRGB. Jefferies Financial Group raised shares of Red Robin Gourmet Burgers from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research note on Monday, December 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a report on Thursday, January 22nd. Finally, Benchmark reissued a "buy" rating on shares of Red Robin Gourmet Burgers in a research note on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $9.50.

Red Robin Gourmet Burgers Profile

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.

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