Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Pass Above 200 Day Moving Average – Should You Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGBGet Free Report)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.95 and traded as high as $6.24. Red Robin Gourmet Burgers shares last traded at $5.97, with a volume of 137,462 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRGB. Lake Street Capital lowered their price objective on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Benchmark lowered their price objective on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Craig Hallum lowered their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a research note on Friday, August 23rd.

View Our Latest Research Report on RRGB

Red Robin Gourmet Burgers Stock Down 1.7 %

The company has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $5.95. The stock has a market capitalization of $94.03 million, a P/E ratio of -2.29 and a beta of 2.75.

Red Robin Gourmet Burgers (NASDAQ:RRGBGet Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The restaurant operator reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The firm had revenue of $300.15 million during the quarter, compared to analysts’ expectations of $295.57 million. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.37 earnings per share for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in Red Robin Gourmet Burgers by 2.0% in the second quarter. First Eagle Investment Management LLC now owns 1,006,937 shares of the restaurant operator’s stock worth $7,623,000 after buying an additional 20,100 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Red Robin Gourmet Burgers by 18.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after buying an additional 143,957 shares in the last quarter. Acuitas Investments LLC boosted its stake in Red Robin Gourmet Burgers by 9.0% in the second quarter. Acuitas Investments LLC now owns 610,193 shares of the restaurant operator’s stock worth $4,619,000 after buying an additional 50,172 shares in the last quarter. Marshall Wace LLP boosted its stake in Red Robin Gourmet Burgers by 188.9% in the second quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock worth $2,790,000 after buying an additional 240,954 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Red Robin Gourmet Burgers in the second quarter worth approximately $2,777,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

(Get Free Report)

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.

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