Raymond James Financial Inc. Invests $63,000 in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Raymond James Financial Inc. bought a new position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,408 shares of the restaurant operator’s stock, valued at approximately $63,000. Raymond James Financial Inc. owned 0.07% of Red Robin Gourmet Burgers as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. XTX Topco Ltd increased its stake in Red Robin Gourmet Burgers by 139.9% in the 3rd quarter. XTX Topco Ltd now owns 79,246 shares of the restaurant operator’s stock worth $349,000 after purchasing an additional 46,219 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Red Robin Gourmet Burgers by 12.2% in the third quarter. Geode Capital Management LLC now owns 194,316 shares of the restaurant operator’s stock worth $857,000 after acquiring an additional 21,062 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the third quarter valued at approximately $55,000. Finally, R Squared Ltd purchased a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter valued at approximately $52,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Price Performance

RRGB stock opened at $3.06 on Monday. The company has a 50 day moving average of $4.37 and a two-hundred day moving average of $5.11. The company has a market cap of $53.45 million, a price-to-earnings ratio of -0.93 and a beta of 2.47. Red Robin Gourmet Burgers, Inc. has a 12-month low of $2.62 and a 12-month high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.44). The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.20 million. During the same period last year, the company posted ($0.66) EPS. On average, research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current year.

Insider Activity at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, CEO Gerard Johan Hart sold 11,467 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.39, for a total value of $50,340.13. Following the completion of the sale, the chief executive officer now directly owns 575,270 shares in the company, valued at $2,525,435.30. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 52,759 shares of company stock valued at $227,353. 3.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RRGB shares. StockNews.com downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, March 8th. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

Red Robin Gourmet Burgers Profile

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.