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

Key Points

• Red Robin Gourmet Burgers' stock price surpassed its 200-day moving average, reaching a high of $6.72, and last traded at $6.48.
• Analysts have a favorable outlook for the stock, with Benchmark maintaining a "buy" rating and a price target of $12.00, while the average target price is set at $11.00.
• Recent insider trades indicate growing confidence in the company, with directors purchasing a significant number of shares, raising their ownership stakes.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.76 and traded as high as $6.72. Red Robin Gourmet Burgers shares last traded at $6.48, with a volume of 114,069 shares traded.

Wall Street Analyst Weigh In

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

Red Robin Gourmet Burgers Price Performance

The stock has a market capitalization of $113.10 million, a price-to-earnings ratio of -1.86 and a beta of 2.45. The stock's 50 day simple moving average is $6.23 and its 200-day simple moving average is $4.78.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $0.26 earnings per share for the quarter, topping 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. As a group, equities research 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 acquired 14,910 shares of the company's stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $5.03 per share, for a total transaction of $74,997.30. Following the completion of the purchase, the director 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 SEC, which is accessible through this hyperlink. Also, Director Christopher Ross Martin acquired 34,649 shares of the company's stock in a transaction dated 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 completion of the purchase, the director directly owned 1,667,906 shares of the company's stock, valued at $10,491,128.74. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here. Insiders bought 67,910 shares of company stock worth $405,615 over the last quarter. 2.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several large investors have recently bought and sold shares of RRGB. JCP Investment Management LLC increased its holdings in Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator's stock valued at $10,215,000 after buying an additional 1,373,077 shares during the period. Bandera Partners LLC grew its holdings 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 acquiring an additional 620,402 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 112.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator's stock valued at $2,166,000 after purchasing an additional 208,862 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Red Robin Gourmet Burgers by 5,671.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator's stock valued at $770,000 after purchasing an additional 130,736 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at about $674,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.