Wedge Capital Management L L P NC decreased its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 372,329 shares of the restaurant operator’s stock after selling 1,959 shares during the period. Wedge Capital Management L L P NC’s holdings in Red Robin Gourmet Burgers were worth $24,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RRGB. BlackRock Inc. boosted its position in shares of Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock worth $91,256,000 after buying an additional 1,557,726 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock worth $63,371,000 after buying an additional 246,178 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock worth $45,027,000 after buying an additional 682,062 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Red Robin Gourmet Burgers by 4.9% in the first quarter. Vanguard Group Inc. now owns 668,118 shares of the restaurant operator’s stock worth $39,052,000 after buying an additional 30,946 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Red Robin Gourmet Burgers by 2.0% in the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock worth $30,721,000 after buying an additional 10,250 shares during the last quarter.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) opened at 60.60 on Friday. The stock has a market cap of $783.38 million, a PE ratio of 93.95 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 stock has a 50 day moving average price of $62.48 and a 200 day moving average price of $58.48.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The business had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. On average, analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.75 EPS for the current fiscal year.

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RRGB has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday. TheStreet upgraded Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday, May 19th. Maxim Group reiterated a “buy” rating and set a $80.00 price objective (up previously from $75.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. Finally, BTIG Research upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Red Robin Gourmet Burgers currently has a consensus rating of “Hold” and a consensus target price of $72.80.

In other Red Robin Gourmet Burgers news, Director Glenn B. Kaufman sold 4,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the stock in a transaction on Wednesday, May 31st. The shares were 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 in the company, valued at approximately $470,074.60. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by company insiders.

Red Robin Gourmet Burgers Company Profile

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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