Insider Buying: Red Robin Gourmet Burgers (NASDAQ:RRGB) Director Buys 18,351 Shares of Stock

Key Points

• Director Christopher Ross Martin purchased 18,351 shares of Red Robin Gourmet Burgers stock at an average price of $6.14 per share, increasing his total ownership to 1,633,257 shares.
• The company reported a quarterly earnings of $0.26 per share, significantly beating analysts' expectations of a loss of ($0.25) and also exceeding revenue expectations with $283.70 million compared to a forecast of $279.17 million.
• Red Robin has a market capitalization of $112.65 million and is projected to have a consensus EPS of -2.94 for the current fiscal year, with a consensus target price of $11.00 according to analysts.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) Director Christopher Ross Martin acquired 18,351 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was acquired at an average cost of $6.14 per share, with a total value of $112,675.14. Following the acquisition, the director owned 1,633,257 shares of the company's stock, valued at $10,028,197.98. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christopher Ross Martin also recently made the following trade(s):

• On Friday, August 22nd, Christopher Ross Martin purchased 34,649 shares of Red Robin Gourmet Burgers stock. The shares were purchased at an average cost of $6.29 per share, with a total value of $217,942.21.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB traded up $0.08 during midday trading on Monday, hitting $6.29. 185,211 shares of the stock traded hands, compared to its average volume of 328,162. Red Robin Gourmet Burgers, Inc. has a 1-year low of $2.50 and a 1-year high of $7.89. The firm has a market capitalization of $112.65 million, a PE ratio of -1.85 and a beta of 2.50. The business's 50 day moving average price is $6.07 and its two-hundred day moving average price is $4.71.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.51. The company had revenue of $283.70 million for the quarter, compared to the consensus estimate of $279.17 million. Red Robin Gourmet Burgers has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a "buy" rating and set a $12.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Red Robin Gourmet Burgers has a consensus rating of "Buy" and a consensus target price of $11.00.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JCP Investment Management LLC grew its stake in shares of Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator's stock valued at $10,215,000 after buying an additional 1,373,077 shares in the last quarter. Bandera Partners LLC grew its stake in shares of Red Robin Gourmet Burgers by 270.2% in the 1st quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator's stock valued at $3,026,000 after buying an additional 620,402 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Red Robin Gourmet Burgers by 112.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator's stock valued at $2,166,000 after buying an additional 208,862 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Red Robin Gourmet Burgers by 5,671.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator's stock valued at $770,000 after buying an additional 130,736 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $674,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

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.

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