Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Red Robin Gourmet Burgers' stock price crossed above its 200-day moving average of $4.69, reaching a high of $6.18 before closing at $5.89.
• Analysts maintain a consensus rating of "Moderate Buy" for the stock, with a price target of approximately $12.38.
• Director Anthony S. Ackil increased his stake by purchasing 14,910 shares at an average price of $5.03 each, representing a notable 16.77% increase in his holdings.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.69 and traded as high as $6.18. Red Robin Gourmet Burgers shares last traded at $5.89, with a volume of 313,478 shares traded.

Analysts Set New Price Targets

Separately, Benchmark reiterated a "buy" rating and set a $12.00 price target on shares of Red Robin Gourmet Burgers in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

Red Robin Gourmet Burgers Price Performance

The firm's fifty day moving average is $5.98 and its two-hundred day moving average is $4.69. The firm has a market capitalization of $104.49 million, a PE ratio of -1.40 and a beta of 2.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last announced its earnings results on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.76. The business 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 firm earned ($0.80) EPS. As a group, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Insider Activity

In other Red Robin Gourmet Burgers news, Director Anthony S. Ackil bought 14,910 shares of the stock in a transaction dated Friday, June 20th. The shares were bought at an average cost of $5.03 per share, for a total transaction of $74,997.30. Following the purchase, the director directly owned 103,802 shares of the company's stock, valued at approximately $522,124.06. This trade represents a 16.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC increased its stake in shares of Red Robin Gourmet Burgers by 3.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 65,500 shares of the restaurant operator's stock worth $360,000 after purchasing an additional 2,400 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Red Robin Gourmet Burgers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 98,793 shares of the restaurant operator's stock valued at $542,000 after purchasing an additional 2,730 shares during the period. Northern Trust Corp increased its position in Red Robin Gourmet Burgers by 11.9% in the fourth quarter. Northern Trust Corp now owns 32,258 shares of the restaurant operator's stock worth $177,000 after buying an additional 3,427 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of 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 during the period. Finally, Geode Capital Management LLC lifted its position in shares of Red Robin Gourmet Burgers by 2.2% during the 4th 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 during the last quarter. 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.

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