Old Mutual Global Investors UK Ltd. Acquires New Holdings in Red Robin Gourmet Burgers, Inc. (RRGB)

Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 5,149 shares of the restaurant operator’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also modified their holdings of RRGB. BlackRock Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 43,842.6% during the 1st quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after purchasing an additional 1,557,726 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 772.5% during the 1st quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after purchasing an additional 682,062 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Red Robin Gourmet Burgers by 29.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after purchasing an additional 246,178 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Red Robin Gourmet Burgers by 2,125.9% during the 1st quarter. Wells Fargo & Company MN now owns 212,862 shares of the restaurant operator’s stock valued at $12,442,000 after purchasing an additional 203,299 shares during the last quarter. Finally, Highbridge Capital Management LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 168.2% during the 1st quarter. Highbridge Capital Management LLC now owns 300,000 shares of the restaurant operator’s stock valued at $17,535,000 after purchasing an additional 188,158 shares during the last quarter.

Several analysts have recently commented on the company. Canaccord Genuity upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, May 26th. Maxim Group reiterated a “buy” rating and set a $80.00 price objective (up previously from $75.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 17th. Raymond James Financial, Inc. set a $75.00 price objective on Red Robin Gourmet Burgers and gave the company a “buy” rating in a report on Wednesday, August 9th. TheStreet lowered Red Robin Gourmet Burgers from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.80.

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In related news, CFO Guy J. Constant purchased 2,500 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $58.88 per share, with a total value of $147,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.66% of the stock is owned by insiders.

Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at 57.85 on Tuesday. Red Robin Gourmet Burgers, Inc. has a 52-week low of $40.85 and a 52-week high of $74.11. The company has a 50 day moving average price of $58.59 and a 200 day moving average price of $60.17. The firm has a market capitalization of $747.83 million, a P/E ratio of 89.69 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $315.69 million. During the same period in the previous year, the company earned $0.75 earnings per share. Red Robin Gourmet Burgers’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post $2.77 EPS for the current fiscal year.

Red Robin Gourmet Burgers 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.

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

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