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

Pacific Ridge Capital Partners LLC boosted its stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,069,632 shares of the restaurant operator’s stock after purchasing an additional 85,518 shares during the quarter. 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 6.15% of Red Robin Gourmet Burgers worth $5,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $34,000. R Squared Ltd bought a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter valued at approximately $52,000. Raymond James Financial Inc. acquired a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter worth $63,000. Wolverine Trading LLC bought a new position in Red Robin Gourmet Burgers during the third quarter worth $55,000. Finally, Geode Capital Management LLC increased its position in Red Robin Gourmet Burgers by 12.2% during 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 during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Red Robin Gourmet Burgers

In other news, CEO Gerard Johan Hart sold 10,418 shares of the company’s stock in a transaction dated 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 owns 564,852 shares of the company’s stock, valued at approximately $2,349,784.32. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 52,759 shares of company stock valued at $227,353. Corporate insiders own 3.19% of the company’s stock.

Red Robin Gourmet Burgers Price Performance

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

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.20 million. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. Analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

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.