Insider Selling: Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Sells 8,627 Shares of Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Gerard Johan Hart sold 8,627 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $4.16, for a total value of $35,888.32. Following the sale, the chief executive officer now directly owns 556,225 shares of the company’s stock, valued at $2,313,896. This represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Gerard Johan Hart also recently made the following trade(s):

• On Friday, March 21st, Gerard Johan Hart sold 10,418 shares of Red Robin Gourmet Burgers stock. The shares were sold at an average price of $4.16, for a total value of $43,338.88.
• On Monday, March 17th, Gerard Johan Hart sold 11,467 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $4.39, for a total transaction of $50,340.13.
• On Friday, March 14th, Gerard Johan Hart sold 11,997 shares of Red Robin Gourmet Burgers stock. The shares were sold at an average price of $4.46, for a total transaction of $53,506.62.

Red Robin Gourmet Burgers Stock Performance

RRGB opened at $3.88 on Friday. The stock has a market capitalization of $67.77 million, a price-to-earnings ratio of -1.18 and a beta of 2.70. The company has a fifty day moving average of $5.09 and a 200 day moving average of $5.14. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The firm had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.20 million. During the same period last year, the firm posted ($0.66) EPS. On average, equities research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current year.

Analysts Set New Price Targets

RRGB has been the topic of a number of analyst reports. StockNews.com cut shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, March 8th. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

Institutional Trading of Red Robin Gourmet Burgers

A number of large investors have recently added to or reduced their stakes in RRGB. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Red Robin Gourmet Burgers in the fourth quarter valued at $64,000. Millennium Management LLC grew its stake in shares of Red Robin Gourmet Burgers by 22.3% in the 4th quarter. Millennium Management LLC now owns 127,974 shares of the restaurant operator’s stock worth $703,000 after buying an additional 23,358 shares in the last quarter. JCP Investment Management LLC increased its holdings in shares of Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock worth $10,215,000 after buying an additional 1,373,077 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Red Robin Gourmet Burgers by 112.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after acquiring an additional 208,862 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter valued at approximately $181,000. Institutional investors own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.