Insider Selling: Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Major Shareholder Sells 859,900 Shares of Stock

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Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) major shareholder Vintage Capital Management Llc sold 859,900 shares of Red Robin Gourmet Burgers stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $12.27, for a total transaction of $10,550,973.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Red Robin Gourmet Burgers stock traded down $2.71 on Thursday, reaching $11.83. 54,402 shares of the stock were exchanged, compared to its average volume of 675,496. The stock has a market cap of $230.90 million, a PE ratio of -19.26 and a beta of 2.53. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 1.86. Red Robin Gourmet Burgers, Inc. has a twelve month low of $4.04 and a twelve month high of $37.29. The firm has a fifty day moving average price of $13.95 and a two-hundred day moving average price of $22.32.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Wednesday, June 10th. The restaurant operator reported ($6.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.61) by ($5.05). The firm had revenue of $306.07 million for the quarter, compared to analyst estimates of $305.96 million. Red Robin Gourmet Burgers had a positive return on equity of 2.21% and a negative net margin of 0.60%. Equities analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -6.08 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth about $27,000. PNC Financial Services Group Inc. increased its holdings in shares of Red Robin Gourmet Burgers by 1,694.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,683 shares of the restaurant operator’s stock worth $40,000 after purchasing an additional 4,422 shares during the period. Aigen Investment Management LP bought a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth about $46,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth about $252,000. Finally, Western Wealth Management LLC bought a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth about $330,000. 93.31% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on RRGB. Wells Fargo & Co decreased their target price on shares of Red Robin Gourmet Burgers from $30.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James reissued a “hold” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on shares of Red Robin Gourmet Burgers from $6.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. ValuEngine raised shares of Red Robin Gourmet Burgers from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 1st. Finally, BidaskClub lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.00.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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Insider Buying and Selling by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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