Trade Report: The Virginia Retirement Systems ET AL Invests $403,000 in Red Robin Gourmet Burgers Inc. (RRGB)

The Virginia Retirement Systems ET AL Invests $403,000 in Red Robin Gourmet Burgers Inc. (RRGB)

Virginia Retirement Systems ET AL acquired a new stake in shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) during the second quarter, Holdings Channel reports. The fund acquired 8,500 shares of the company’s stock, valued at approximately $403,000. Virginia Retirement Systems ET AL owned about 0.06% of Red Robin Gourmet Burgers at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in Red Robin Gourmet Burgers during the second quarter valued at $118,000. Bayesian Capital Management LP bought a new position in Red Robin Gourmet Burgers during the first quarter valued at $245,000. Bank of Montreal Can bought a new position in Red Robin Gourmet Burgers during the second quarter valued at $197,000. BNP Paribas Arbitrage SA boosted its position in Red Robin Gourmet Burgers by 56.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,918 shares of the company’s stock valued at $233,000 after buying an additional 1,771 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its position in Red Robin Gourmet Burgers by 43.6% in the second quarter. First Midwest Bank Trust Division now owns 6,512 shares of the company’s stock valued at $309,000 after buying an additional 1,977 shares during the last quarter.

Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) opened at 43.41 on Friday. The firm has a 50 day moving average of $47.67 and a 200-day moving average of $53.36. Red Robin Gourmet Burgers Inc. has a 52-week low of $42.95 and a 52-week high of $82.66. The company has a market capitalization of $576.79 million, a price-to-earnings ratio of 14.45 and a beta of 0.78.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, August 9th. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by $0.05. The company earned $305.50 million during the quarter, compared to analyst estimates of $313.63 million. Red Robin Gourmet Burgers had a return on equity of 12.47% and a net margin of 3.27%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Equities analysts expect that Red Robin Gourmet Burgers Inc. will post $3.17 EPS for the current year.

Several research analysts have recently weighed in on the stock. Standpoint Research assumed coverage on shares of Red Robin Gourmet Burgers in a report on Monday, August 8th. They set a “buy” rating and a $64.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Red Robin Gourmet Burgers in a report on Monday, August 22nd. They set a “hold” rating and a $53.00 price objective for the company. Zacks Investment Research lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Maxim Group restated a “buy” rating and set a $77.00 target price (down from $81.00) on shares of Red Robin Gourmet Burgers in a research report on Friday, June 17th. Finally, TheStreet lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.69.

In other Red Robin Gourmet Burgers news, COO Carin Stutz purchased 1,077 shares of Red Robin Gourmet Burgers stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $46.40 per share, with a total value of $49,972.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stuart B. Brown sold 5,846 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $53.15, for a total transaction of $310,714.90. Following the transaction, the chief financial officer now directly owns 15,790 shares of the company’s stock, valued at $839,238.50. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

Related posts

Leave a Comment