Schwab Charles Investment Management Inc. raised its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 4.3% during the first quarter, Holdings Channel reports. The firm owned 97,034 shares of the restaurant operator’s stock after buying an additional 3,969 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Red Robin Gourmet Burgers were worth $5,672,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RRGB. Norges Bank acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter worth $840,000. Wealthsource Partners LLC boosted its position in shares of Red Robin Gourmet Burgers by 6.2% in the first quarter. Wealthsource Partners LLC now owns 6,905 shares of the restaurant operator’s stock valued at $404,000 after buying an additional 405 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Red Robin Gourmet Burgers by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 7,280 shares of the restaurant operator’s stock valued at $426,000 after buying an additional 350 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Red Robin Gourmet Burgers by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 22,970 shares of the restaurant operator’s stock valued at $1,343,000 after buying an additional 1,147 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Red Robin Gourmet Burgers by 5.3% in the fourth quarter. State Street Corp now owns 285,242 shares of the restaurant operator’s stock valued at $16,090,000 after buying an additional 14,246 shares in the last quarter.

Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) traded up 0.54% during trading on Monday, hitting $56.10. The stock had a trading volume of 37,334 shares. The stock has a market cap of $721.95 million, a PE ratio of 82.26 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a 1-year low of $40.85 and a 1-year high of $74.11. The firm’s 50-day moving average price is $64.27 and its 200-day moving average price is $58.25.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. The firm had revenue of $418.60 million during the quarter, compared to analyst estimates of $416.48 million. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. On average, equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.93 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on RRGB shares. Bank of America Corporation lifted their price objective on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Stephens reaffirmed an “overweight” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. Zacks Investment Research raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, May 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $58.00 price objective (up from $53.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 17th. Finally, Maxim Group lifted their price objective on Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Red Robin Gourmet Burgers presently has an average rating of “Hold” and an average target price of $74.80.

In other news, Director Glenn B. Kaufman sold 4,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $289,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total value of $211,522.80. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at $470,074.60. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

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.

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

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