Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Price Passes Above 50-Day Moving Average of $29.82

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $29.82 and traded as high as $29.94. Red Robin Gourmet Burgers shares last traded at $29.70, with a volume of 5,166 shares.

Several research firms have commented on RRGB. Zacks Investment Research cut shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Maxim Group upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $49.00 in a report on Friday, June 14th. Raymond James reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. TheStreet cut shares of Urban Outfitters from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. Finally, BidaskClub upgraded shares of YY from a “strong sell” rating to a “sell” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.70.

The firm’s fifty day simple moving average is $29.65. The company has a current ratio of 0.44, a quick ratio of 0.30 and a debt-to-equity ratio of 1.90. The company has a market cap of $395.08 million, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Thursday, May 30th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.29). Red Robin Gourmet Burgers had a negative net margin of 0.77% and a positive return on equity of 4.14%. The company had revenue of $409.87 million during the quarter, compared to analyst estimates of $408.98 million. During the same quarter in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Red Robin Gourmet Burgers, Inc. will post 1.25 earnings per share for the current year.

In other Red Robin Gourmet Burgers news, major shareholder Vintage Capital Management Llc purchased 203,336 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average price of $25.97 per share, for a total transaction of $5,280,635.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Glenn B. Kaufman purchased 2,000 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $26.00 per share, with a total value of $52,000.00. Following the transaction, the director now owns 29,733 shares in the company, valued at $773,058. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 206,336 shares of company stock valued at $5,359,136. 2.08% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY grew its stake in Red Robin Gourmet Burgers by 461.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,731 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 3,888 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at about $132,000. Municipal Employees Retirement System of Michigan acquired a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at about $175,000. Texas Permanent School Fund grew its stake in Red Robin Gourmet Burgers by 3.9% in the 4th quarter. Texas Permanent School Fund now owns 8,493 shares of the restaurant operator’s stock valued at $227,000 after acquiring an additional 315 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $309,000.

About Red Robin Gourmet Burgers (NASDAQ:RRGB)

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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