Federated Hermes Inc. Cuts Stock Position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Federated Hermes Inc. lessened its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 313,145 shares of the restaurant operator’s stock after selling 5,675 shares during the period. Federated Hermes Inc. owned approximately 2.02% of Red Robin Gourmet Burgers worth $3,905,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. AdvisorShares Investments LLC bought a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $90,000. Campbell & CO Investment Adviser LLC bought a new stake in Red Robin Gourmet Burgers in the third quarter worth $315,000. Raymond James & Associates boosted its stake in Red Robin Gourmet Burgers by 12.7% during the third quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock worth $421,000 after buying an additional 5,900 shares during the period. Victory Capital Management Inc. increased its position in Red Robin Gourmet Burgers by 3.9% during the third quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock valued at $481,000 after acquiring an additional 2,267 shares during the last quarter. Finally, Acuitas Investments LLC raised its stake in shares of Red Robin Gourmet Burgers by 12.3% in the third quarter. Acuitas Investments LLC now owns 360,397 shares of the restaurant operator’s stock valued at $2,898,000 after acquiring an additional 39,363 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Red Robin Gourmet Burgers in a research note on Thursday. They set a “buy” rating and a $20.00 price target for the company. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. Finally, StockNews.com cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th.

Red Robin Gourmet Burgers Stock Performance

NASDAQ RRGB opened at $7.01 on Friday. Red Robin Gourmet Burgers, Inc. has a 12 month low of $5.56 and a 12 month high of $16.50. The company’s 50-day moving average price is $7.13 and its 200-day moving average price is $8.99.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). The company had revenue of $309.00 million during the quarter, compared to the consensus estimate of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. As a group, equities research analysts expect that Red Robin Gourmet Burgers, Inc. will post -1.61 earnings per share for the current year.

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.