Red Robin Gourmet Burgers, Inc. (RRGB) Shares Bought by State of Tennessee Treasury Department

State of Tennessee Treasury Department increased its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 8.8% during the first quarter, Holdings Channel reports. The institutional investor owned 12,147 shares of the restaurant operator’s stock after buying an additional 984 shares during the period. State of Tennessee Treasury Department’s holdings in Red Robin Gourmet Burgers were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RRGB. BNP Paribas Arbitrage SA raised its stake in 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 valued at $247,000 after buying an additional 51 shares during the period. Thrivent Financial for Lutherans raised its stake in Red Robin Gourmet Burgers by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,930 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares during the period. Foundry Partners LLC raised its stake in Red Robin Gourmet Burgers by 0.3% in the first quarter. Foundry Partners LLC now owns 114,375 shares of the restaurant operator’s stock valued at $6,685,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can raised its stake in Red Robin Gourmet Burgers by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 17,280 shares of the restaurant operator’s stock valued at $1,009,000 after buying an additional 763 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in 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 valued at $142,000 after buying an additional 1,037 shares during the period.

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

Red Robin Gourmet Burgers, Inc. (RRGB) opened at 64.35 on Monday. The company’s 50-day moving average is $65.44 and its 200 day moving average is $55.83. The stock has a market cap of $828.12 million, a PE ratio of 94.35 and a beta of 0.57. Red Robin Gourmet Burgers, Inc. has a 52 week low of $40.85 and a 52 week high of $74.11.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Red Robin Gourmet Burgers had a net margin of 0.69% and a return on equity of 8.73%. The company had revenue of $418.60 million for the quarter, compared to analysts’ expectations of $416.48 million. During the same quarter last year, the business earned $1.27 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, analysts expect that Red Robin Gourmet Burgers, Inc. will post $2.91 earnings per share for the current fiscal year.

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RRGB has been the topic of several research reports. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Stephens reissued an “overweight” rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a research report on Wednesday, February 22nd. Canaccord Genuity reissued a “hold” rating and issued a $52.00 price target on shares of Red Robin Gourmet Burgers in a research report on Thursday, March 2nd. Bank of America Corporation boosted their price target on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 4th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $74.22.

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

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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