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

Key Points

• Red Robin Gourmet Burgers stock has surpassed its 200-day moving average at $4.71, reaching a trading high of $6.05 and closing at $5.81 with a volume of 123,460 shares.
• Benchmark has issued a buy rating with a price target of $12.00, while analysts maintain an average rating of "Moderate Buy" and a consensus price target of $12.38.
• Director Anthony S. Ackil bought 14,910 shares at $5.03 each, increasing his ownership in the company by 16.77%.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.71 and traded as high as $6.05. Red Robin Gourmet Burgers shares last traded at $5.81, with a volume of 123,460 shares changing hands.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a "buy" rating and set a $12.00 price target on shares of Red Robin Gourmet Burgers in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, Red Robin Gourmet Burgers has a consensus rating of "Moderate Buy" and an average price target of $12.38.

Red Robin Gourmet Burgers Price Performance

The firm has a market cap of $101.18 million, a P/E ratio of -1.35 and a beta of 2.50. The stock's 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $4.70.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.76. The firm had revenue of $392.35 million for the quarter, compared to the consensus estimate of $388.77 million. During the same quarter last year, the firm earned ($0.80) EPS. As a group, sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current year.

Insider Activity at Red Robin Gourmet Burgers

In other news, Director Anthony S. Ackil purchased 14,910 shares of the firm's stock in a transaction on Friday, June 20th. The stock was acquired at an average cost of $5.03 per share, with a total value of $74,997.30. Following the completion of the transaction, the director owned 103,802 shares in the company, valued at $522,124.06. This represents a 16.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.19% of the company's stock.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds have recently modified their holdings of the company. Jump Financial LLC acquired a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $37,000. Raymond James Financial Inc. acquired a new position in Red Robin Gourmet Burgers in the 4th quarter worth approximately $63,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Red Robin Gourmet Burgers in the 4th quarter worth approximately $64,000. Barclays PLC increased its holdings in Red Robin Gourmet Burgers by 489.6% in the 4th quarter. Barclays PLC now owns 12,270 shares of the restaurant operator's stock worth $67,000 after buying an additional 10,189 shares during the period. Finally, XTX Topco Ltd acquired a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $49,000. 84.04% of the stock is owned by hedge funds and other 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.