Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.96 and traded as high as $6.51. Red Robin Gourmet Burgers shares last traded at $6.26, with a volume of 413,730 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RRGB shares. Benchmark restated a “buy” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. Wall Street Zen cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. Finally, UBS Group set a $8.00 price objective on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.67.

Red Robin Gourmet Burgers Stock Performance

The stock has a 50 day moving average of $4.29 and a two-hundred day moving average of $3.98. The stock has a market cap of $115.81 million, a PE ratio of -4.17 and a beta of 2.48.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Tuesday, May 19th. The restaurant operator reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The business had revenue of $378.26 million for the quarter, compared to the consensus estimate of $273.29 million. Analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several hedge funds have recently made changes to their positions in RRGB. Dimensional Fund Advisors LP boosted its stake in Red Robin Gourmet Burgers by 66.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 35,015 shares of the restaurant operator’s stock worth $102,000 after purchasing an additional 13,929 shares during the period. MB Generational Wealth LLC acquired a new stake in Red Robin Gourmet Burgers during the 1st quarter valued at $59,000. JCP Investment Management LLC raised its stake in Red Robin Gourmet Burgers by 0.6% during the 4th quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock valued at $7,579,000 after purchasing an additional 10,567 shares during the period. Jain Global LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter valued at $47,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter valued at $71,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.