Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Major Shareholder Sells $566,720.00 in Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) major shareholder Archon Capital Management Llc sold 77,000 shares of Red Robin Gourmet Burgers stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.36, for a total value of $566,720.00. Following the sale, the insider now directly owns 1,793,692 shares of the company's stock, valued at approximately $13,201,573.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Archon Capital Management Llc also recently made the following trade(s):

• On Friday, May 17th, Archon Capital Management Llc sold 100,200 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $6.85, for a total transaction of $686,370.00.

Red Robin Gourmet Burgers Price Performance

RRGB stock traded down $0.32 during midday trading on Friday, hitting $6.76. 392,714 shares of the stock traded hands, compared to its average volume of 316,906. Red Robin Gourmet Burgers, Inc. has a 1-year low of $5.56 and a 1-year high of $16.50. The stock's fifty day simple moving average is $6.92 and its 200-day simple moving average is $8.99. The firm has a market cap of $105.46 million, a P/E ratio of -5.04 and a beta of 2.79.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.23). Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. The business had revenue of $309.00 million for the quarter, compared to analyst estimates of $304.73 million. On average, research analysts predict that Red Robin Gourmet Burgers, Inc. will post -1.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RRGB. Benchmark reiterated a "buy" rating and issued a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. StockNews.com downgraded Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a research report on Thursday, April 18th. Lake Street Capital initiated coverage on Red Robin Gourmet Burgers in a report on Tuesday, April 30th. They issued a "buy" rating and a $16.00 price objective for the company. Finally, Craig Hallum initiated coverage on Red Robin Gourmet Burgers in a research note on Thursday, April 25th. They issued a "buy" rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.75.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Red Robin Gourmet Burgers by 122.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator's stock worth $33,000 after purchasing an additional 1,435 shares during the period. Victory Capital Management Inc. raised its holdings in Red Robin Gourmet Burgers by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator's stock worth $481,000 after purchasing an additional 2,267 shares during the period. PNC Financial Services Group Inc. raised its holdings in Red Robin Gourmet Burgers by 57.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator's stock worth $85,000 after purchasing an additional 2,491 shares during the period. Headlands Technologies LLC acquired a new position in Red Robin Gourmet Burgers in the 1st quarter worth about $25,000. Finally, Raymond James & Associates raised its holdings in Red Robin Gourmet Burgers by 12.7% in the 3rd quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator's stock worth $421,000 after purchasing an additional 5,900 shares during the period. Institutional investors and hedge funds 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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