Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

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.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a "buy" rating and issued 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Red Robin Gourmet Burgers Stock Performance

The stock has a market cap of $119.21 million, a PE ratio of -1.98 and a beta of 2.50. The company's 50-day moving average price is $5.97 and its 200 day moving average price is $4.71.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.51. The business had revenue of $283.70 million for the quarter, compared to analysts' expectations of $279.17 million. On average, sell-side analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Insider Transactions at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, Director Anthony S. Ackil purchased 14,910 shares of the company's stock in a transaction on Friday, June 20th. The stock was acquired 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 $522,124.06. This trade represents a 16.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.64% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator's stock worth $31,000 after purchasing an additional 4,487 shares during the period. Jump Financial LLC acquired a new stake in Red Robin Gourmet Burgers in the first quarter worth about $37,000. XTX Topco Ltd acquired a new stake in shares of Red Robin Gourmet Burgers during the first quarter worth about $49,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Red Robin Gourmet Burgers during the first quarter worth about $61,000. Finally, Raymond James Financial Inc. acquired a new position in Red Robin Gourmet Burgers in the fourth quarter valued at approximately $63,000. 84.04% of the stock is currently owned by institutional investors.

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.