Public Sector Pension Investment Board Decreases Position in Red Robin Gourmet Burgers, Inc. (RRGB)

Public Sector Pension Investment Board reduced its stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 7.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,073 shares of the company’s stock after selling 700 shares during the period. Public Sector Pension Investment Board owned 0.07% of Red Robin Gourmet Burgers worth $512,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its stake in Red Robin Gourmet Burgers by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the company’s stock valued at $136,000 after buying an additional 50 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $221,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $402,000. Suntrust Banks Inc. acquired a new stake in Red Robin Gourmet Burgers during the third quarter valued at approximately $323,000. Finally, Russell Investments Group Ltd. acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $519,000.

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

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) opened at 53.25 on Monday. The firm has a market cap of $684.64 million, a price-to-earnings ratio of 61.21 and a beta of 0.85. Red Robin Gourmet Burgers, Inc. has a 12 month low of $40.85 and a 12 month high of $67.05. The company’s 50-day moving average is $48.74 and its 200-day moving average is $49.35.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, February 21st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Red Robin Gourmet Burgers had a net margin of 2.49% and a return on equity of 11.87%. The company had revenue of $291.46 million for the quarter, compared to the consensus estimate of $291.11 million. During the same period in the previous year, the firm earned $0.86 EPS. Red Robin Gourmet Burgers’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Red Robin Gourmet Burgers, Inc. will post $2.73 earnings per share for the current fiscal year.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Maxim Group decreased their target price on shares of Red Robin Gourmet Burgers from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. Jefferies Group LLC restated a “hold” rating and set a $56.00 target price on shares of Red Robin Gourmet Burgers in a research report on Monday, January 9th. Stephens restated an “overweight” rating and set a $75.00 target price on shares of Red Robin Gourmet Burgers in a research report on Wednesday, February 22nd. Finally, Canaccord Genuity restated a “hold” rating and set a $52.00 target price on shares of Red Robin Gourmet Burgers in a research report on Thursday, March 2nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.25.

In related news, CFO Guy J. Constant purchased 5,000 shares of the company’s stock in a transaction on Friday, February 24th. The shares were bought at an average cost of $47.30 per share, for a total transaction of $236,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.66% of the stock is currently owned by insiders.

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.

5 Day Chart for NASDAQ:RRGB

Want to see what other hedge funds are holding RRGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB).

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