Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Stake Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 3.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 35,400 shares of the restaurant operator’s stock after selling 1,100 shares during the period. New York State Teachers Retirement System owned 0.28% of Red Robin Gourmet Burgers worth $2,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RRGB. Benjamin F. Edwards & Company Inc. boosted its position in shares of Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Red Robin Gourmet Burgers by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,007 shares of the restaurant operator’s stock worth $176,000 after buying an additional 197 shares during the last quarter. Financial Advisory Service Inc. bought a new position in shares of Red Robin Gourmet Burgers during the first quarter worth approximately $241,000. BNP Paribas Arbitrage SA boosted its position in shares of Red Robin Gourmet Burgers by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,218 shares of the restaurant operator’s stock worth $247,000 after buying an additional 51 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in shares of Red Robin Gourmet Burgers during the fourth quarter worth approximately $310,000.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) opened at 64.525 on Tuesday. Red Robin Gourmet Burgers, Inc. has a 1-year low of $40.85 and a 1-year high of $74.11. The firm has a market capitalization of $830.37 million, a price-to-earnings ratio of 94.611 and a beta of 0.64. The company has a 50-day moving average price of $67.22 and a 200 day moving average price of $56.73.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. The business had revenue of $418.60 million for the quarter, compared to analyst estimates of $416.48 million. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. On average, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.94 EPS for the current year.

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RRGB has been the topic of a number of recent analyst reports. TheStreet upgraded Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research report on Thursday, May 18th. Maxim Group restated a “buy” rating and issued a $80.00 price target on shares of Red Robin Gourmet Burgers in a research report on Tuesday, May 23rd. Bank of America Corporation upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $80.00 in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, May 19th. Finally, Canaccord Genuity upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and raised their price target for the stock from $72.00 to $90.00 in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and a consensus target price of $74.22.

In other news, Director Glenn B. Kaufman sold 4,000 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $289,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total value of $211,522.80. Following the transaction, the director now owns 6,547 shares in the company, valued at $470,074.60. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by corporate insiders.

Red Robin Gourmet Burgers Company Profile

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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