Stock Traders Purchase High Volume of Red Robin Gourmet Burgers Call Options (NASDAQ:RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) saw some unusual options trading activity on Friday. Stock investors bought 6,406 call options on the stock. This represents an increase of 3,071% compared to the average daily volume of 202 call options.

Analyst Upgrades and Downgrades

RRGB has been the subject of several research analyst reports. CL King raised Red Robin Gourmet Burgers from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Thursday, February 27th. Wall Street Zen lowered shares of Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a report on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.38.

Red Robin Gourmet Burgers Price Performance

Shares of NASDAQ RRGB traded up $0.14 during mid-day trading on Tuesday, hitting $6.02. 1,707,579 shares of the stock traded hands, compared to its average volume of 568,606. The company has a market cap of $106.08 million, a PE ratio of -1.83 and a beta of 2.11. Red Robin Gourmet Burgers has a twelve month low of $2.50 and a twelve month high of $9.20. The firm has a 50 day simple moving average of $3.12 and a two-hundred day simple moving average of $4.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its earnings results on Thursday, May 29th. The restaurant operator reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.57) by $0.76. The firm had revenue of $392.35 million during the quarter, compared to the consensus estimate of $388.77 million. During the same quarter in the prior year, the business posted ($0.80) earnings per share. On average, equities research analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gerard Johan Hart sold 10,418 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $4.16, for a total transaction of $43,338.88. Following the completion of the transaction, the chief executive officer now owns 564,852 shares of the company's stock, valued at approximately $2,349,784.32. The trade was a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 52,759 shares of company stock worth $227,353. 3.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRGB. Jump Financial LLC bought a new stake in shares of Red Robin Gourmet Burgers in the first quarter worth $37,000. XTX Topco Ltd bought a new stake in shares of Red Robin Gourmet Burgers in the 1st quarter valued at about $49,000. R Squared Ltd bought a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter valued at about $52,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Red Robin Gourmet Burgers in the first quarter valued at about $61,000. Finally, Raymond James Financial Inc. bought a new position in shares of Red Robin Gourmet Burgers during the fourth quarter worth about $63,000. 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.