Red Robin Gourmet Burgers (NASDAQ:RRGB) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a hold rating to a sell rating in a research report released on Thursday.

Separately, Benchmark reaffirmed a buy rating and issued a $18.00 price objective on shares of Red Robin Gourmet Burgers in a report on Monday.

Red Robin Gourmet Burgers Trading Up 0.8 %

NASDAQ:RRGB opened at $6.00 on Thursday. The company’s 50 day moving average price is $7.57 and its 200-day moving average price is $9.04. Red Robin Gourmet Burgers has a 52 week low of $5.56 and a 52 week high of $16.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The business had revenue of $309.00 million during the quarter, compared to analysts’ expectations of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. Sell-side analysts expect that Red Robin Gourmet Burgers will post -1.61 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRGB. PNC Financial Services Group Inc. grew its position in shares of Red Robin Gourmet Burgers by 57.9% during the 4th 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. Goldman Sachs Group Inc. grew its holdings in Red Robin Gourmet Burgers by 53.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 54,860 shares of the restaurant operator’s stock valued at $684,000 after purchasing an additional 19,084 shares during the period. GSA Capital Partners LLP purchased a new stake in Red Robin Gourmet Burgers in the fourth quarter worth about $193,000. Barclays PLC increased its position in Red Robin Gourmet Burgers by 697.5% in the fourth quarter. Barclays PLC now owns 22,004 shares of the restaurant operator’s stock worth $274,000 after buying an additional 19,245 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Red Robin Gourmet Burgers by 46.6% in the fourth quarter. Nuveen Asset Management LLC now owns 31,374 shares of the restaurant operator’s stock worth $391,000 after buying an additional 9,975 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.