Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Stock Position Raised by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 11.0% during the first quarter, HoldingsChannel.com reports. The fund owned 986,837 shares of the restaurant operator’s stock after acquiring an additional 97,424 shares during the period. First Eagle Investment Management LLC owned 0.06% of Red Robin Gourmet Burgers worth $7,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fund 1 Investments LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 253.0% in the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock worth $3,796,000 after purchasing an additional 218,187 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Red Robin Gourmet Burgers by 23.0% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock valued at $7,951,000 after buying an additional 119,351 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Red Robin Gourmet Burgers by 57.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 2,491 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Red Robin Gourmet Burgers by 35.5% during the fourth quarter. Panagora Asset Management Inc. now owns 44,794 shares of the restaurant operator’s stock valued at $559,000 after buying an additional 11,730 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Red Robin Gourmet Burgers by 109.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 82,028 shares of the restaurant operator’s stock valued at $1,023,000 after purchasing an additional 42,875 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on RRGB shares. Craig Hallum began coverage on Red Robin Gourmet Burgers in a research note on Thursday, April 25th. They issued a “buy” rating and a $20.00 target price on the stock. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Monday, April 15th. Lake Street Capital lifted their price target on Red Robin Gourmet Burgers from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, StockNews.com cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Red Robin Gourmet Burgers currently has an average rating of “Hold” and an average target price of $16.00.

Red Robin Gourmet Burgers Trading Down 1.2 %

Shares of NASDAQ:RRGB traded down $0.07 during trading on Friday, hitting $5.85. 179,540 shares of the company’s stock were exchanged, compared to its average volume of 365,073. Red Robin Gourmet Burgers, Inc. has a 1-year low of $5.56 and a 1-year high of $15.76. The firm has a 50-day moving average price of $7.25 and a two-hundred day moving average price of $8.08. The firm has a market cap of $91.73 million, a P/E ratio of -3.36 and a beta of 2.75.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data on Wednesday, May 29th. The restaurant operator reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.39). The business had revenue of $388.54 million for the quarter, compared to analysts’ expectations of $397.08 million. As a group, research analysts predict that Red Robin Gourmet Burgers, Inc. will post -1.74 EPS for the current year.

Insider Activity at Red Robin Gourmet Burgers

In other news, major shareholder Archon Capital Management Llc sold 77,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $7.36, for a total value of $566,720.00. Following the completion of the sale, the insider now directly owns 1,793,692 shares of the company’s stock, valued at $13,201,573.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.