Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Shares Acquired by Pacific Ridge Capital Partners LLC

Key Points

• Pacific Ridge Capital Partners LLC increased its stake in Red Robin Gourmet Burgers by 7.4%, now owning approximately 6.52% of the company, valued at $4.09 million.
• Red Robin reported $0.19 EPS for the last quarter, significantly beating analyst expectations of (0.57), and had revenue of $392.35 million.
• Benchmark has reaffirmed a "buy" rating on Red Robin Gourmet Burgers with a price target of $12.00, despite the stock's current market performance.

Pacific Ridge Capital Partners LLC increased its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,148,813 shares of the restaurant operator's stock after buying an additional 79,181 shares during the period. Pacific Ridge Capital Partners LLC owned 6.52% of Red Robin Gourmet Burgers worth $4,090,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter worth $63,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at about $64,000. Barclays PLC grew its position in shares of Red Robin Gourmet Burgers by 489.6% during the fourth quarter. Barclays PLC now owns 12,270 shares of the restaurant operator's stock valued at $67,000 after purchasing an additional 10,189 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Red Robin Gourmet Burgers in the 1st quarter valued at about $49,000. Finally, Northern Trust Corp lifted its holdings in shares of Red Robin Gourmet Burgers by 11.9% in the 4th quarter. Northern Trust Corp now owns 32,258 shares of the restaurant operator's stock valued at $177,000 after acquiring an additional 3,427 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Red Robin Gourmet Burgers Trading Up 2.1%

Shares of Red Robin Gourmet Burgers stock traded up $0.12 on Tuesday, hitting $5.76. 175,370 shares of the company traded hands, compared to its average volume of 617,067. The company has a market cap of $102.16 million, a PE ratio of -1.36 and a beta of 2.50. The stock's 50 day moving average price is $5.82 and its 200-day moving average price is $4.70. 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 issued its quarterly earnings data 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 business had revenue of $392.35 million for the quarter, compared to analysts' expectations of $388.77 million. During the same period in the previous year, the business earned ($0.80) earnings per share. As a group, research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Insider Transactions at Red Robin Gourmet Burgers

In other news, Director Anthony S. Ackil purchased 14,910 shares of the business's stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of $5.03 per share, with a total value of $74,997.30. Following the completion of the acquisition, the director owned 103,802 shares of the company's stock, valued at $522,124.06. This trade represents a 16.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.19% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.38.

Red Robin Gourmet Burgers 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.