Investors Buy Large Volume of Red Robin Gourmet Burgers Put Options (RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the target of unusually large options trading on Wednesday. Investors purchased 2,396 put options on the stock. This represents an increase of approximately 2,504% compared to the typical daily volume of 92 put options.

In other news, COO Carin Stutz purchased 715 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $49.15 per share, for a total transaction of $35,142.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.66% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Red Robin Gourmet Burgers by 1.3% in the second quarter. BlackRock Inc. now owns 1,581,338 shares of the restaurant operator’s stock worth $103,184,000 after purchasing an additional 20,059 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Red Robin Gourmet Burgers by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,084,594 shares of the restaurant operator’s stock worth $72,667,000 after purchasing an additional 5,068 shares during the last quarter. Daruma Capital Management LLC raised its stake in shares of Red Robin Gourmet Burgers by 225.6% in the second quarter. Daruma Capital Management LLC now owns 856,225 shares of the restaurant operator’s stock worth $55,869,000 after purchasing an additional 593,278 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Red Robin Gourmet Burgers by 5.8% in the third quarter. Ameriprise Financial Inc. now owns 803,475 shares of the restaurant operator’s stock worth $53,833,000 after purchasing an additional 43,870 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Red Robin Gourmet Burgers by 5.5% in the second quarter. Vanguard Group Inc. now owns 704,965 shares of the restaurant operator’s stock worth $45,998,000 after purchasing an additional 36,847 shares during the last quarter.

Several research analysts have issued reports on the company. Maxim Group reiterated a “buy” rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a report on Monday, October 30th. Stifel Nicolaus assumed coverage on Red Robin Gourmet Burgers in a report on Monday, October 2nd. They issued a “hold” rating and a $62.00 price target on the stock. Jefferies Group cut their price target on Red Robin Gourmet Burgers from $61.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Raymond James Financial lowered Red Robin Gourmet Burgers from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $77.50 to $65.00 in a report on Tuesday, November 7th. Finally, BTIG Research cut their price target on Red Robin Gourmet Burgers from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and a consensus price target of $69.45.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) opened at $54.05 on Friday. The company has a market capitalization of $725.71, a P/E ratio of 56.90, a PEG ratio of 2.08 and a beta of 0.56. Red Robin Gourmet Burgers has a 52 week low of $45.20 and a 52 week high of $74.11. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.76.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The company had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $308.44 million. Red Robin Gourmet Burgers had a return on equity of 7.32% and a net margin of 0.94%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. equities research analysts predict that Red Robin Gourmet Burgers will post 2.26 EPS for the current year.

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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.

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