Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,750,000 shares, a decline of 8.6% from the August 30th total of 3,010,000 shares. Approximately 24.3% of the shares of the company are short sold. Based on an average trading volume of 316,400 shares, the days-to-cover ratio is presently 8.7 days.
Several hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new position in Red Robin Gourmet Burgers in the 2nd quarter worth about $452,000. Alpha Windward LLC acquired a new position in Red Robin Gourmet Burgers in the 3rd quarter worth about $443,000. Prudential Financial Inc. raised its holdings in Red Robin Gourmet Burgers by 4.5% in the 2nd quarter. Prudential Financial Inc. now owns 251,807 shares of the restaurant operator’s stock worth $7,698,000 after purchasing an additional 10,810 shares during the period. Comerica Bank raised its holdings in Red Robin Gourmet Burgers by 8.2% in the 2nd quarter. Comerica Bank now owns 73,690 shares of the restaurant operator’s stock worth $2,228,000 after purchasing an additional 5,587 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Red Robin Gourmet Burgers by 76.2% in the 2nd quarter. Renaissance Technologies LLC now owns 93,866 shares of the restaurant operator’s stock worth $2,869,000 after purchasing an additional 40,600 shares during the period.
RRGB has been the subject of a number of research reports. Stephens set a $36.00 price target on Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Monday, August 26th. Zacks Investment Research raised Red Robin Gourmet Burgers from a “sell” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Monday, August 5th. Maxim Group set a $44.00 price target on Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Friday, September 6th. BidaskClub cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Finally, Raymond James reaffirmed a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.00.
Shares of RRGB stock traded up $0.14 on Thursday, hitting $31.65. The company had a trading volume of 3,543 shares, compared to its average volume of 224,141. The firm has a market cap of $404.72 million, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.99 and a beta of 1.24. The company has a 50-day moving average price of $33.12 and a 200-day moving average price of $31.74. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 1.85. Red Robin Gourmet Burgers has a twelve month low of $24.57 and a twelve month high of $38.96.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Friday, August 23rd. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.72. The business had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $306.39 million. Red Robin Gourmet Burgers had a positive return on equity of 6.18% and a negative net margin of 0.55%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. Equities research analysts expect that Red Robin Gourmet Burgers will post 1.08 EPS for the current year.
Red Robin Gourmet Burgers Company Profile
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.
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