Red Robin Gourmet Burgers, Inc. (RRGB) Position Boosted by Investment Counselors of Maryland LLC

Investment Counselors of Maryland LLC lifted its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 22.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 543,347 shares of the restaurant operator’s stock after buying an additional 98,549 shares during the quarter. Investment Counselors of Maryland LLC’s holdings in Red Robin Gourmet Burgers were worth $21,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Voya Investment Management LLC grew its holdings in shares of Red Robin Gourmet Burgers by 94.2% in the 2nd quarter. Voya Investment Management LLC now owns 398,125 shares of the restaurant operator’s stock worth $18,553,000 after purchasing an additional 193,143 shares during the last quarter. BlackRock Inc. lifted its holdings in Red Robin Gourmet Burgers by 7.8% during the 2nd quarter. BlackRock Inc. now owns 1,769,762 shares of the restaurant operator’s stock worth $82,473,000 after purchasing an additional 128,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in Red Robin Gourmet Burgers by 47.7% during the 2nd quarter. American Century Companies Inc. now owns 385,010 shares of the restaurant operator’s stock worth $17,941,000 after purchasing an additional 124,351 shares in the last quarter. Foundry Partners LLC purchased a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth about $4,794,000. Finally, GMT Capital Corp purchased a new stake in Red Robin Gourmet Burgers during the 2nd quarter worth about $4,804,000.

Shares of NASDAQ RRGB opened at $33.14 on Wednesday. The stock has a market capitalization of $411.99 million, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.35 and a current ratio of 0.55. Red Robin Gourmet Burgers, Inc. has a twelve month low of $30.02 and a twelve month high of $67.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data on Tuesday, November 6th. The restaurant operator reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $294.90 million for the quarter, compared to analyst estimates of $304.11 million. Red Robin Gourmet Burgers had a return on equity of 7.20% and a net margin of 1.01%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. Research analysts forecast that Red Robin Gourmet Burgers, Inc. will post 1.91 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. Wells Fargo & Co restated a “market perform” rating and issued a $36.00 target price (down from $43.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Stephens restated an “overweight” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Loop Capital assumed coverage on Red Robin Gourmet Burgers in a research note on Friday, November 2nd. They issued a “hold” rating and a $35.00 target price on the stock. Canaccord Genuity restated a “hold” rating and issued a $42.00 target price on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research lowered Red Robin Gourmet Burgers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.77.

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Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. As of December 31, 2017, it operated 480 company-owned restaurants located in 39 states and 2 Canadian provinces; and had 86 casual-dining restaurants operated by franchisees in 15 states.

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

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