Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Shares Acquired by Acuitas Investments LLC

Acuitas Investments LLC increased its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 610,193 shares of the restaurant operator’s stock after purchasing an additional 50,172 shares during the period. Red Robin Gourmet Burgers makes up about 2.5% of Acuitas Investments LLC’s portfolio, making the stock its 5th biggest holding. Acuitas Investments LLC owned approximately 3.89% of Red Robin Gourmet Burgers worth $4,619,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Red Robin Gourmet Burgers in the 1st quarter valued at $25,000. PNC Financial Services Group Inc. raised its holdings in Red Robin Gourmet Burgers by 57.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 2,491 shares in the last quarter. Virtu Financial LLC acquired a new position in Red Robin Gourmet Burgers in the 1st quarter valued at $149,000. Quadrature Capital Ltd acquired a new position in Red Robin Gourmet Burgers in the 1st quarter valued at $166,000. Finally, BNP Paribas Financial Markets raised its holdings in Red Robin Gourmet Burgers by 48.0% in the 1st quarter. BNP Paribas Financial Markets now owns 37,259 shares of the restaurant operator’s stock valued at $285,000 after acquiring an additional 12,082 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRGB has been the subject of several analyst reports. Craig Hallum dropped their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a report on Friday, August 23rd. Lake Street Capital decreased their price target on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, Benchmark decreased their price target on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.13.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB opened at $3.32 on Friday. The firm has a market cap of $52.29 million, a price-to-earnings ratio of -1.86 and a beta of 2.75. Red Robin Gourmet Burgers, Inc. has a 52-week low of $3.23 and a 52-week high of $12.80. The business’s fifty day moving average is $5.33 and its 200-day moving average is $6.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Thursday, August 22nd. The restaurant operator reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.07). The company had revenue of $300.15 million during the quarter, compared to analyst estimates of $295.57 million. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.18 EPS for the current fiscal year.

Red Robin Gourmet Burgers Profile

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.