Red Robin Gourmet Burgers Sees Unusually High Options Volume (RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 2,396 put options on the company. This represents an increase of approximately 2,504% compared to the typical volume of 92 put options.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at $54.05 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.37 and a current ratio of 0.56. Red Robin Gourmet Burgers has a 52 week low of $45.20 and a 52 week high of $74.11. The company has a market cap of $725.71, a PE ratio of 56.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.56.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). Red Robin Gourmet Burgers had a net margin of 0.94% and a return on equity of 7.32%. The firm had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $308.44 million. During the same period in the prior year, the company posted $0.38 earnings per share. Red Robin Gourmet Burgers’s quarterly revenue was up 2.3% compared to the same quarter last year. equities research analysts predict that Red Robin Gourmet Burgers will post 2.26 EPS for the current fiscal year.

In related news, COO Carin Stutz bought 715 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average price of $49.15 per share, for a total transaction of $35,142.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.66% of the company’s stock.

A number of hedge funds have recently bought and sold shares of RRGB. Schwab Charles Investment Management Inc. lifted its stake in Red Robin Gourmet Burgers by 11.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 108,295 shares of the restaurant operator’s stock valued at $7,067,000 after buying an additional 11,261 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Red Robin Gourmet Burgers by 45.2% during the second quarter. Advisors Asset Management Inc. now owns 3,297 shares of the restaurant operator’s stock valued at $215,000 after buying an additional 1,027 shares in the last quarter. Legal & General Group Plc lifted its stake in Red Robin Gourmet Burgers by 14.4% during the second quarter. Legal & General Group Plc now owns 24,296 shares of the restaurant operator’s stock valued at $1,587,000 after buying an additional 3,066 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Red Robin Gourmet Burgers by 44.5% during the second quarter. BNP Paribas Arbitrage SA now owns 6,094 shares of the restaurant operator’s stock valued at $398,000 after buying an additional 1,876 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Red Robin Gourmet Burgers during the second quarter valued at about $911,000.

Several equities analysts have recently weighed in on RRGB shares. Maxim Group restated a “buy” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Monday, October 30th. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, October 10th. Jefferies Group upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and raised their price objective for the company from $58.00 to $63.00 in a research report on Friday, December 22nd. Stifel Nicolaus started coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They set a “hold” rating and a $62.00 price objective for the company. Finally, BTIG Research restated a “buy” rating and set a $70.00 price objective (up previously from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Red Robin Gourmet Burgers has a consensus rating of “Hold” and a consensus price target of $69.45.

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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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