Short Interest in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Decreases By 17.1%

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 2,230,000 shares, a decline of 17.1% from the June 30th total of 2,690,000 shares. Based on an average daily trading volume, of 433,600 shares, the days-to-cover ratio is presently 5.1 days. Currently, 14.9% of the company’s shares are short sold.

Red Robin Gourmet Burgers Trading Up 0.5 %

RRGB stock traded up $0.03 during midday trading on Tuesday, reaching $5.83. 224,650 shares of the company’s stock traded hands, compared to its average volume of 370,424. Red Robin Gourmet Burgers has a fifty-two week low of $5.46 and a fifty-two week high of $14.63. The business has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $7.76.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Wednesday, May 29th. The restaurant operator reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.39). The company had revenue of $388.54 million for the quarter, compared to analysts’ expectations of $397.08 million. On average, analysts anticipate that Red Robin Gourmet Burgers will post -1.79 EPS for the current year.

Wall Street Analyst Weigh In

RRGB has been the subject of several recent analyst reports. Craig Hallum assumed coverage on Red Robin Gourmet Burgers in a report on Thursday, April 25th. They issued a “buy” rating and a $20.00 price target for the company. Lake Street Capital upped their price target on shares of Red Robin Gourmet Burgers from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.00.

Insider Transactions at Red Robin Gourmet Burgers

In related news, major shareholder Archon Capital Management Llc sold 100,200 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $6.85, for a total transaction of $686,370.00. Following the sale, the insider now owns 1,551,587 shares in the company, valued at $10,628,370.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Hedge funds have recently modified their holdings of the stock. Fund 1 Investments LLC raised its stake in shares of Red Robin Gourmet Burgers by 253.0% during the fourth quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock valued at $3,796,000 after purchasing an additional 218,187 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in Red Robin Gourmet Burgers by 23.0% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock worth $7,951,000 after buying an additional 119,351 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Red Robin Gourmet Burgers by 11.0% in the 1st quarter. First Eagle Investment Management LLC now owns 986,837 shares of the restaurant operator’s stock valued at $7,559,000 after buying an additional 97,424 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Red Robin Gourmet Burgers by 57.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 2,491 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Red Robin Gourmet Burgers by 48.0% during the first quarter. BNP Paribas Financial Markets now owns 37,259 shares of the restaurant operator’s stock worth $285,000 after acquiring an additional 12,082 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Company 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.