Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) fell 5.6% during mid-day trading on Tuesday . The company traded as low as $46.84 and last traded at $47.93, with a volume of 258,900 shares traded. The stock had previously closed at $50.78.

A number of research firms have recently issued reports on RRGB. Zacks Investment Research lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Tuesday. TheStreet lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Maxim Group reissued a “buy” rating and issued a $77.00 price target (down from $81.00) on shares of Red Robin Gourmet Burgers in a research report on Friday, June 17th. Finally, Morgan Stanley reissued a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $85.89.

The company has a market cap of $656.83 million and a P/E ratio of 14.94. The company’s 50-day moving average is $50.85 and its 200 day moving average is $58.72.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, May 17th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. During the same quarter in the prior year, the business posted $1.10 earnings per share. The business had revenue of $402.10 million for the quarter, compared to analysts’ expectations of $416.30 million. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts forecast that Red Robin Gourmet Burgers Inc. will post $3.40 EPS for the current year.

In other news, CEO Stephen E. Carley purchased 1,050 shares of the stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $48.04 per share, with a total value of $50,442.00. Following the acquisition, the chief executive officer now directly owns 14,974 shares of the company’s stock, valued at $719,350.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenn B. Kaufman purchased 2,000 shares of the stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $47.85 per share, for a total transaction of $95,700.00. Following the completion of the acquisition, the director now directly owns 23,440 shares in the company, valued at $1,121,604. The disclosure for this purchase can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Red Robin Gourmet Burgers by 8.3% in the fourth quarter. Rhumbline Advisers now owns 18,461 shares of the company’s stock valued at $1,140,000 after buying an additional 1,410 shares during the last quarter. Trexquant Investment LP boosted its position in Red Robin Gourmet Burgers by 30.4% in the fourth quarter. Trexquant Investment LP now owns 19,818 shares of the company’s stock valued at $1,224,000 after buying an additional 4,618 shares during the last quarter. California State Teachers Retirement System boosted its position in Red Robin Gourmet Burgers by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 26,196 shares of the company’s stock valued at $1,617,000 after buying an additional 400 shares during the last quarter. New York State Common Retirement Fund boosted its position in Red Robin Gourmet Burgers by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,787 shares of the company’s stock valued at $2,827,000 after buying an additional 2,226 shares during the last quarter. Finally, UBS Oconnor LLC purchased a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $2,964,000.

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

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