Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) dropped 1.5% during trading on Thursday . The stock traded as low as $49.90 and last traded at $49.98, with a volume of 106,812 shares changing hands. The stock had previously closed at $50.75.

RRGB has been the subject of several analyst reports. Maxim Group reissued a “buy” rating and set a $81.00 price target (down from $85.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, May 17th. Jefferies Group reissued a “buy” rating and set a $72.00 price target (down from $80.00) on shares of Red Robin Gourmet Burgers in a research report on Thursday, May 19th. Standpoint Research initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, August 8th. They set a “buy” rating and a $64.00 price target for the company. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, TheStreet lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Robin Gourmet Burgers presently has a consensus rating of “Buy” and an average price target of $77.46.

The firm has a 50-day moving average of $49.13 and a 200 day moving average of $57.36. The firm has a market cap of $665.75 million and a P/E ratio of 16.67.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.05. During the same period in the prior year, the company posted $0.78 earnings per share. The business earned $305.50 million during the quarter, compared to the consensus estimate of $313.63 million. Red Robin Gourmet Burgers’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Red Robin Gourmet Burgers Inc. will post $3.20 earnings per share for the current year.

In other Red Robin Gourmet Burgers news, CFO Stuart B. Brown sold 5,846 shares of Red Robin Gourmet Burgers stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $53.15, for a total value of $310,714.90. Following the completion of the transaction, the chief financial officer now directly owns 15,790 shares of the company’s stock, valued at approximately $839,238.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen E. Carley bought 1,050 shares of the company’s stock in a transaction on Friday, May 20th. The stock was purchased at an average cost of $48.04 per share, with a total value of $50,442.00. Following the completion of the transaction, the chief executive officer now owns 14,974 shares in the company, valued at $719,350.96. The disclosure for this purchase can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. RS Investment Management Co. LLC increased its position in Red Robin Gourmet Burgers by 32.8% in the fourth quarter. RS Investment Management Co. LLC now owns 1,187,185 shares of the company’s stock valued at $73,297,000 after buying an additional 293,218 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Red Robin Gourmet Burgers by 37.4% in the fourth quarter. Victory Capital Management Inc. now owns 306,210 shares of the company’s stock valued at $18,905,000 after buying an additional 83,378 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of 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. Trexquant Investment LP boosted its position in shares of 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. Finally, Rhumbline Advisers boosted its position in shares of 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.

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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