144,279 Shares in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Acquired by Falcon Point Capital LLC

Falcon Point Capital LLC purchased a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the second quarter, Holdings Channel reports. The institutional investor purchased 144,279 shares of the restaurant operator’s stock, valued at approximately $9,414,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RRGB. Norges Bank bought a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $840,000. Wealthsource Partners LLC increased its position in Red Robin Gourmet Burgers by 6.2% in the first quarter. Wealthsource Partners LLC now owns 6,905 shares of the restaurant operator’s stock valued at $404,000 after buying an additional 405 shares during the period. Thrivent Financial For Lutherans increased its position in Red Robin Gourmet Burgers by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 7,280 shares of the restaurant operator’s stock valued at $426,000 after buying an additional 350 shares during the period. Parametric Portfolio Associates LLC increased its position in Red Robin Gourmet Burgers by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 22,970 shares of the restaurant operator’s stock valued at $1,343,000 after buying an additional 1,147 shares during the period. Finally, Comerica Bank increased its position in Red Robin Gourmet Burgers by 4.3% in the first quarter. Comerica Bank now owns 48,974 shares of the restaurant operator’s stock valued at $2,926,000 after buying an additional 2,029 shares during the period.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at 60.60 on Friday. Red Robin Gourmet Burgers, Inc. has a 12-month low of $40.85 and a 12-month high of $74.11. The firm has a market cap of $783.38 million, a P/E ratio of 93.95 and a beta of 0.62. The firm has a 50-day moving average of $62.48 and a 200-day moving average of $58.48.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post $2.75 earnings per share for the current fiscal year.

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RRGB has been the subject of several research analyst reports. Bank of America Corporation upped their price target on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Zacks Investment Research downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Maxim Group restated a “buy” rating and set a $80.00 price target on shares of Red Robin Gourmet Burgers in a research report on Tuesday, May 23rd. Finally, Morgan Stanley upped their price target on shares of Red Robin Gourmet Burgers from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.80.

In other news, Director Glenn B. Kaufman sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $72.25, for a total value of $289,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the business’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 completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $470,074.60. The disclosure for this sale can be found here. Insiders own 2.66% of the company’s stock.

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.

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).

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

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