Red Robin Gourmet Burgers (NASDAQ:RRGB) Receives Buy Rating from Benchmark

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Benchmark in a report released on Wednesday,Benzinga reports. They presently have a $12.00 price target on the restaurant operator's stock. Benchmark's price objective would suggest a potential upside of 88.38% from the company's previous close.

Red Robin Gourmet Burgers Trading Up 1.3%

Red Robin Gourmet Burgers stock traded up $0.08 during midday trading on Wednesday, reaching $6.37. 209,203 shares of the stock traded hands, compared to its average volume of 569,728. The company has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $4.64. Red Robin Gourmet Burgers has a 12-month low of $2.50 and a 12-month high of $7.05. The firm has a market cap of $112.98 million, a PE ratio of -1.51 and a beta of 2.41.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last announced 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 company had revenue of $392.35 million during the quarter, compared to analysts' expectations of $388.77 million. During the same quarter in the previous year, the business posted ($0.80) EPS. Equities research analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current year.

Insider Activity

In other Red Robin Gourmet Burgers news, Director Anthony S. Ackil purchased 14,910 shares of the firm's stock in a transaction on Friday, June 20th. The stock was bought at an average cost of $5.03 per share, with a total value of $74,997.30. Following the acquisition, the director directly owned 103,802 shares of the company's stock, valued at approximately $522,124.06. This represents a 16.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.19% of the company's stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently added to or reduced their stakes in RRGB. Bridgeway Capital Management LLC raised its position in Red Robin Gourmet Burgers by 3.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,500 shares of the restaurant operator's stock valued at $360,000 after purchasing an additional 2,400 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Red Robin Gourmet Burgers by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 98,793 shares of the restaurant operator's stock worth $542,000 after buying an additional 2,730 shares in the last quarter. Northern Trust Corp increased 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 purchasing an additional 3,427 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Red Robin Gourmet Burgers by 4.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 93,985 shares of the restaurant operator's stock valued at $335,000 after buying an additional 4,140 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Red Robin Gourmet Burgers by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 198,525 shares of the restaurant operator's stock valued at $1,090,000 after buying an additional 4,209 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

About Red Robin Gourmet Burgers

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.