Geode Capital Management LLC Has $1.09 Million Stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Geode Capital Management LLC increased its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 198,525 shares of the restaurant operator’s stock after buying an additional 4,209 shares during the period. Geode Capital Management LLC’s holdings in Red Robin Gourmet Burgers were worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in Red Robin Gourmet Burgers in the fourth quarter valued at $52,000. Raymond James Financial Inc. acquired a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at about $63,000. Commonwealth Equity Services LLC raised its holdings in shares of Red Robin Gourmet Burgers by 101.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 71,032 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 35,767 shares during the period. Finally, Pacific Ridge Capital Partners LLC raised its holdings in shares of Red Robin Gourmet Burgers by 8.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock valued at $5,872,000 after purchasing an additional 85,518 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

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

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB stock opened at $2.92 on Thursday. Red Robin Gourmet Burgers, Inc. has a 52-week low of $2.50 and a 52-week high of $9.20. The company has a 50-day simple moving average of $3.74 and a two-hundred day simple moving average of $4.92. The company has a market capitalization of $51.00 million, a price-to-earnings ratio of -0.89 and a beta of 2.47.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released 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 firm had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.20 million. During the same period in the prior year, the company earned ($0.66) earnings per share. On average, sell-side analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Insider Activity at Red Robin Gourmet Burgers

In related news, CEO Gerard Johan Hart sold 11,467 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.39, for a total transaction of $50,340.13. Following the sale, the chief executive officer now directly owns 575,270 shares in the company, valued at approximately $2,525,435.30. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 52,759 shares of company stock worth $227,353. 3.19% of the stock is owned by corporate insiders.

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.