Advisors Asset Management Inc. Acquires 1,027 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Advisors Asset Management Inc. grew its stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 45.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,297 shares of the restaurant operator’s stock after buying an additional 1,027 shares during the period. Advisors Asset Management Inc.’s holdings in Red Robin Gourmet Burgers were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its position in shares of Red Robin Gourmet Burgers by 1.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,218 shares of the restaurant operator’s stock worth $247,000 after purchasing an additional 51 shares during the period. Texas Permanent School Fund raised its position in shares of Red Robin Gourmet Burgers by 0.9% during the second quarter. Texas Permanent School Fund now owns 9,396 shares of the restaurant operator’s stock worth $613,000 after purchasing an additional 86 shares during the period. Arizona State Retirement System raised its position in shares of Red Robin Gourmet Burgers by 1.5% during the first quarter. Arizona State Retirement System now owns 6,695 shares of the restaurant operator’s stock worth $391,000 after purchasing an additional 100 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Red Robin Gourmet Burgers by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,040 shares of the restaurant operator’s stock worth $198,000 after purchasing an additional 110 shares during the period. Finally, Teachers Advisors LLC raised its position in Red Robin Gourmet Burgers by 0.6% in the 1st quarter. Teachers Advisors LLC now owns 21,896 shares of the restaurant operator’s stock valued at $1,280,000 after buying an additional 126 shares during the last quarter.

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $58.88 per share, with a total value of $147,200.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.66% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and lifted their target price for the company from $72.00 to $90.00 in a research report on Friday, May 26th. Raymond James Financial, Inc. set a $75.00 target price on Red Robin Gourmet Burgers and gave the company a “buy” rating in a research report on Wednesday, August 9th. TheStreet downgraded Red Robin Gourmet Burgers from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Maxim Group restated a “buy” rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and a consensus target price of $73.40.

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Red Robin Gourmet Burgers, Inc. (RRGB) opened at 60.38 on Friday. Red Robin Gourmet Burgers, Inc. has a one year low of $40.85 and a one year high of $74.11. The firm has a 50-day moving average price of $58.24 and a 200 day moving average price of $60.25. The firm has a market capitalization of $780.47 million, a PE ratio of 93.60 and a beta of 0.63.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The firm had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Red Robin Gourmet Burgers, Inc. will post $2.77 EPS for the current fiscal year.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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