Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.22 and traded as high as $7.09. Red Robin Gourmet Burgers shares last traded at $6.60, with a volume of 244,837 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RRGB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Tuesday, April 21st. Wall Street Zen lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark reiterated a “buy” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. Finally, UBS Group set a $8.00 target price on shares of 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. Based on data from MarketBeat.com, Red Robin Gourmet Burgers has an average rating of “Hold” and a consensus target price of $7.67.

Red Robin Gourmet Burgers Price Performance

The stock’s 50-day moving average price is $5.06 and its 200 day moving average price is $4.22. The firm has a market capitalization of $122.10 million, a PE ratio of -4.40 and a beta of 2.38.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $378.26 million during the quarter, compared to analysts’ expectations of $273.29 million. Equities research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently made changes to their positions in the company. Mink Brook Asset Management LLC bought a new stake in shares of Red Robin Gourmet Burgers in the third quarter valued at about $3,152,000. Simcoe Capital LLC bought a new position in Red Robin Gourmet Burgers during the 4th quarter worth about $1,989,000. Pacific Ridge Capital Partners LLC increased its position in Red Robin Gourmet Burgers by 8.8% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock valued at $5,623,000 after purchasing an additional 112,526 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter valued at about $114,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter worth approximately $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.