USA Financial Portformulas Corp Purchases Shares of 7,012 Red Robin Gourmet Burgers, Inc. (RRGB)

USA Financial Portformulas Corp purchased a new position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,012 shares of the restaurant operator’s stock, valued at approximately $458,000. USA Financial Portformulas Corp owned 0.05% of Red Robin Gourmet Burgers at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund lifted its stake in shares of Red Robin Gourmet Burgers by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 9,396 shares of the restaurant operator’s stock worth $613,000 after purchasing an additional 86 shares during the period. Arizona State Retirement System raised its position in shares of Red Robin Gourmet Burgers by 1.5% in the 1st quarter. Arizona State Retirement System now owns 6,695 shares of the restaurant operator’s stock worth $391,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Red Robin Gourmet Burgers by 3.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,040 shares of the restaurant operator’s stock worth $198,000 after buying an additional 110 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Red Robin Gourmet Burgers by 6.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,871 shares of the restaurant operator’s stock worth $122,000 after buying an additional 112 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Red Robin Gourmet Burgers by 0.6% in the 1st quarter. Teachers Advisors LLC now owns 21,896 shares of the restaurant operator’s stock worth $1,280,000 after buying an additional 126 shares during the period.

Several brokerages recently issued reports on RRGB. Stifel Nicolaus began coverage on Red Robin Gourmet Burgers in a report on Monday, October 2nd. They issued a “hold” rating and a $62.00 price target for the company. Canaccord Genuity restated a “buy” rating and set a $80.00 target price on shares of Red Robin Gourmet Burgers in a research note on Sunday, October 1st. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $85.00 target price on shares of Red Robin Gourmet Burgers in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.73.

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In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 2,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $58.88 per share, with a total value of $147,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.66% of the stock is owned by corporate insiders.

Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) traded up 4.58% during trading on Friday, reaching $69.65. 519,085 shares of the company’s stock traded hands. The firm’s 50 day moving average is $63.68 and its 200 day moving average is $62.78. Red Robin Gourmet Burgers, Inc. has a 12 month low of $44.75 and a 12 month high of $74.11. The company has a market cap of $900.37 million, a P/E ratio of 107.98 and a beta of 0.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The company had revenue of $315.80 million for the quarter, compared to the consensus estimate of $315.69 million. During the same quarter in the previous year, the company earned $0.75 EPS. Red Robin Gourmet Burgers’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Red Robin Gourmet Burgers, Inc. will post $2.80 EPS for the current year.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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