Virtu Financial LLC Lowers Stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Virtu Financial LLC trimmed its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 32.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,093 shares of the restaurant operator’s stock after selling 5,279 shares during the quarter. Virtu Financial LLC’s holdings in Red Robin Gourmet Burgers were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RRGB. Quarry LP acquired a new stake in Red Robin Gourmet Burgers during the 2nd quarter worth approximately $25,000. Quantbot Technologies LP acquired a new position in Red Robin Gourmet Burgers during the third quarter valued at approximately $34,000. Point72 DIFC Ltd purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $55,000. Wolverine Trading LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the third quarter worth $55,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at $172,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RRGB. Craig Hallum decreased their price target on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a research report on Friday, August 23rd. Lake Street Capital decreased their target price on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 23rd.

Red Robin Gourmet Burgers Trading Up 6.0 %

NASDAQ RRGB opened at $5.31 on Friday. The stock has a market cap of $83.78 million, a P/E ratio of -1.61 and a beta of 2.68. The company’s fifty day simple moving average is $5.53 and its 200-day simple moving average is $5.52. Red Robin Gourmet Burgers, Inc. has a 52 week low of $2.97 and a 52 week high of $12.80.

Insider Buying and Selling

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc purchased 800,454 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $5.19 per share, with a total value of $4,154,356.26. Following the completion of the acquisition, the insider now owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 846,597 shares of company stock valued at $4,393,946 in the last quarter. Company insiders own 3.19% 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.