Bandera Partners LLC Takes $1.26 Million Position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Bandera Partners LLC purchased a new position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 229,598 shares of the restaurant operator’s stock, valued at approximately $1,260,000. Red Robin Gourmet Burgers accounts for 0.5% of Bandera Partners LLC’s holdings, making the stock its 17th biggest position.

A number of other institutional investors have also added to or reduced their stakes in RRGB. Quantbot Technologies LP bought a new stake in shares of Red Robin Gourmet Burgers during the third quarter valued at approximately $34,000. R Squared Ltd acquired a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at $52,000. Raymond James Financial Inc. bought a new stake in Red Robin Gourmet Burgers during the 4th quarter valued at $63,000. Wolverine Trading LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter worth about $55,000. Finally, Commonwealth Equity Services LLC boosted its stake in Red Robin Gourmet Burgers by 101.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 71,032 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 35,767 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RRGB shares. CL King raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, February 27th. StockNews.com lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, Red Robin Gourmet Burgers currently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

Insiders Place Their Bets

In related news, CEO Gerard Johan Hart sold 10,418 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $4.16, for a total value of $43,338.88. Following the completion of the transaction, the chief executive officer now directly owns 564,852 shares of the company’s stock, valued at approximately $2,349,784.32. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 52,759 shares of company stock worth $227,353 over the last quarter. 3.19% of the stock is currently owned by company insiders.

Red Robin Gourmet Burgers Trading Down 2.5 %

RRGB stock opened at $3.56 on Tuesday. Red Robin Gourmet Burgers, Inc. has a 1-year low of $2.97 and a 1-year high of $9.20. The stock has a market cap of $62.18 million, a P/E ratio of -1.08 and a beta of 2.70. The stock’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $5.18.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.44). The company had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.20 million. During the same period in the prior year, the firm posted ($0.66) EPS. As a group, analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.94 earnings per share for the current fiscal year.

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.