Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Red Robin shares crossed above their 200-day moving average, reaching $7.43 before closing at $7.05, compared with a 200-day average of $5.78.
• Analyst sentiment remains mixed: Benchmark upgraded the stock to “buy” with a $10 target, while other analysts maintained “hold” or “sell” views. The consensus rating is “Hold” with an average price target of $8.33.
• The company reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding analysts’ revenue expectations of $268.56 million. Institutional investors own approximately 84.04% of the stock.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.78 and traded as high as $7.43. Red Robin Gourmet Burgers shares last traded at $7.05, with a volume of 461,316 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RRGB shares. Wall Street Zen raised shares of Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. UBS Group set a $8.00 target price on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Finally, Benchmark boosted their price target on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Red Robin Gourmet Burgers has a consensus rating of "Hold" and an average target price of $8.33.

Red Robin Gourmet Burgers Price Performance

The business has a 50 day moving average of $8.24 and a 200 day moving average of $5.78. The company has a market cap of $133.25 million, a PE ratio of -4.17 and a beta of 2.44.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $277.64 million for the quarter, compared to analysts' expectations of $268.56 million. Sell-side analysts forecast that Red Robin Gourmet Burgers, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Several institutional investors and hedge funds have recently bought and sold shares of RRGB. Wellington Management Group LLP bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at approximately $2,778,000. BlackRock Inc. bought a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter worth approximately $2,382,000. GatePass Capital LLC raised its position in shares of Red Robin Gourmet Burgers by 89.7% in the 4th quarter. GatePass Capital LLC now owns 148,000 shares of the restaurant operator's stock worth $599,000 after acquiring an additional 70,000 shares in the last quarter. Western Standard LLC purchased a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $706,000. Finally, PDT Partners LLC purchased a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $327,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc is a casual-dining restaurant company that operates the Red Robin Gourmet Burgers brand. The company is known for made-to-order gourmet burgers, including beef, chicken, turkey and plant-based options, along with Bottomless Steak Fries, sandwiches, salads, appetizers, entrees, desserts, beverages and children's meals.

Founded in 1969 in Seattle, Washington, Red Robin has developed into a full-service restaurant chain serving guests primarily in the United States, with operations supported by a combination of company-owned and franchised locations.

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