Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) dropped 1.5% during trading on Thursday . The company 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 a number of recent research reports. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Morgan Stanley reiterated a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 18th. Maxim Group reiterated a “buy” rating and issued a $81.00 target price (down from $85.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, May 17th. Sterne Agee CRT reiterated a “neutral” rating on shares of Red Robin Gourmet Burgers in a research report on Monday, May 16th. Finally, Jefferies Group cut shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and set a $55.00 target price for the company. in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.46.

The firm’s 50 day moving average price is $49.20 and its 200 day moving average price is $57.27. The company has a market capitalization of $663.49 million and a price-to-earnings ratio of 16.62.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 9th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.80 by $0.05. During the same quarter in the prior year, the firm earned $0.78 EPS. The business had revenue of $305.50 million for the quarter, compared to the consensus estimate of $313.63 million. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Red Robin Gourmet Burgers Inc. will post $3.20 EPS for the current year.

In related news, COO Carin Stutz bought 960 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were bought at an average cost of $52.20 per share, for a total transaction of $50,112.00. Following the transaction, the chief operating officer now owns 2,218 shares of the company’s stock, valued at $115,779.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stuart I. Oran sold 1,200 shares of the business’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $52.62, for a total transaction of $63,144.00. The disclosure for this sale can be found here.

Other large investors recently modified their holdings of the company. RS Investment Management Co. LLC raised its stake in shares of 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 during the last quarter. Trexquant Investment LP raised its stake 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 in the last quarter. New York State Common Retirement Fund raised its stake 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 in the last quarter. Finally, Rhumbline Advisers raised its stake 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 in 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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