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

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 passed 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 traded.

Wall Street Analysts Forecast Growth

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

Red Robin Gourmet Burgers Trading Up 5.4%

The company has a market capitalization of $123.40 million, a P/E ratio of -2.03 and a beta of 2.45. The stock's fifty day moving average is $6.34 and its 200 day moving average is $4.93.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $0.26 earnings per share (EPS) 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 analysts' expectations of $279.17 million. Red Robin Gourmet Burgers has set its FY 2025 guidance at EPS. On average, analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Red Robin Gourmet Burgers news, Director Christopher Ross Martin acquired 34,649 shares of the company's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $6.29 per share, for a total transaction of $217,942.21. Following the acquisition, the director owned 1,667,906 shares in the company, valued at $10,491,128.74. This represents a 2.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.64% of the stock is owned by insiders.

Institutional Trading of Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Red Robin Gourmet Burgers by 1.5% during the 2nd quarter. Bank of America Corp DE now owns 182,565 shares of the restaurant operator's stock valued at $1,057,000 after purchasing an additional 2,697 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Red Robin Gourmet Burgers by 11.9% during the fourth quarter. Northern Trust Corp now owns 32,258 shares of the restaurant operator's stock valued at $177,000 after buying an additional 3,427 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Red Robin Gourmet Burgers by 4.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 93,985 shares of the restaurant operator's stock valued at $335,000 after acquiring an additional 4,140 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Red Robin Gourmet Burgers by 503.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator's stock worth $31,000 after acquiring an additional 4,487 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Red Robin Gourmet Burgers by 152.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator's stock valued at $58,000 after acquiring an additional 6,075 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.