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

Key Points

• Red Robin Gourmet Burgers' share price recently crossed above its 200-day moving average, reaching a peak of $6.94 before closing at $6.60.
• Benchmark has maintained a buy rating on the stock, setting a target price of $12.00, while the consensus price target stands at $11.00.
• Increased institutional investment is notable, with Bandera Partners raising its stake by 270.2%, indicating growing confidence in the company's prospects.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.90 and traded as high as $6.94. Red Robin Gourmet Burgers shares last traded at $6.60, with a volume of 316,803 shares trading hands.

Wall Street Analyst Weigh In

Separately, Benchmark restated a "buy" rating and set a $12.00 target price on shares of Red Robin Gourmet Burgers in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $11.00.

Red Robin Gourmet Burgers Stock Performance

The firm has a market capitalization of $118.21 million, a price-to-earnings ratio of -1.94 and a beta of 2.45. The business's 50-day moving average is $6.30 and its two-hundred day moving average is $4.90.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.51. The firm had revenue of $283.70 million during the quarter, compared to analyst estimates of $279.17 million. Red Robin Gourmet Burgers has set its FY 2025 guidance at EPS. Analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current year.

Insider Buying and Selling at Red Robin Gourmet Burgers

In other news, Director Christopher Ross Martin purchased 34,649 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $6.29 per share, for a total transaction of $217,942.21. Following the transaction, the director directly owned 1,667,906 shares of the company's stock, valued at approximately $10,491,128.74. The trade was a 2.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.64% of the stock is owned by corporate insiders.

Institutional Trading of Red Robin Gourmet Burgers

A number of large investors have recently bought and sold shares of RRGB. Bandera Partners LLC increased its stake in Red Robin Gourmet Burgers by 270.2% during the 1st quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator's stock worth $3,026,000 after purchasing an additional 620,402 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Red Robin Gourmet Burgers by 5,671.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator's stock worth $770,000 after purchasing an additional 130,736 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter worth approximately $674,000. Pacific Ridge Capital Partners LLC increased its stake in Red Robin Gourmet Burgers by 7.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,148,813 shares of the restaurant operator's stock worth $4,090,000 after purchasing an additional 79,181 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Red Robin Gourmet Burgers during the 1st quarter worth approximately $209,000. 84.04% of the stock is owned by institutional investors.

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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