Pacific Ridge Capital Partners LLC Acquires 85,518 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Pacific Ridge Capital Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 8.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,069,632 shares of the restaurant operator’s stock after purchasing an additional 85,518 shares during the period. Red Robin Gourmet Burgers comprises 1.3% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 26th largest holding. Pacific Ridge Capital Partners LLC owned approximately 0.06% of Red Robin Gourmet Burgers worth $5,872,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RRGB. Quantbot Technologies LP bought a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth about $34,000. Verition Fund Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the third quarter worth approximately $1,082,000. PDT Partners LLC grew its stake in shares of Red Robin Gourmet Burgers by 159.5% during the third quarter. PDT Partners LLC now owns 151,360 shares of the restaurant operator’s stock valued at $667,000 after purchasing an additional 93,040 shares during the last quarter. Wolverine Trading LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the third quarter valued at approximately $55,000. Finally, XTX Topco Ltd raised its position 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 during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB stock opened at $3.97 on Thursday. The firm’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $5.15. The stock has a market cap of $69.34 million, a PE ratio of -1.21 and a beta of 2.70. Red Robin Gourmet Burgers, Inc. has a 52-week low of $2.97 and a 52-week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results 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 firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.20 million. During the same quarter in the prior year, the company earned ($0.66) EPS. As a group, sell-side analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Red Robin Gourmet Burgers news, CEO Gerard Johan Hart sold 10,418 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $4.16, for a total value of $43,338.88. Following the sale, the chief executive officer now directly owns 564,852 shares in the company, valued at approximately $2,349,784.32. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 52,759 shares of company stock worth $227,353. Insiders own 3.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Saturday, March 8th. CL King upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.38.

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.