Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 313,145 shares of the restaurant operator’s stock after selling 5,675 shares during the period. Federated Hermes Inc.’s holdings in Red Robin Gourmet Burgers were worth $3,905,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Red Robin Gourmet Burgers by 12.7% during the 3rd quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock worth $421,000 after purchasing an additional 5,900 shares during the last quarter. Acuitas Investments LLC lifted its stake in shares of Red Robin Gourmet Burgers by 12.3% in the third quarter. Acuitas Investments LLC now owns 360,397 shares of the restaurant operator’s stock worth $2,898,000 after buying an additional 39,363 shares in the last quarter. Victory Capital Management Inc. grew its stake in Red Robin Gourmet Burgers by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock valued at $481,000 after acquiring an additional 2,267 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in Red Robin Gourmet Burgers in the 3rd quarter valued at about $90,000. Finally, First Eagle Investment Management LLC grew its position in shares of Red Robin Gourmet Burgers by 70.9% in the third quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator’s stock valued at $6,075,000 after purchasing an additional 313,373 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RRGB. StockNews.com downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Craig Hallum assumed coverage on shares of Red Robin Gourmet Burgers in a research report on Thursday. They set a “buy” rating and a $20.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Red Robin Gourmet Burgers in a report on Monday, April 15th.

Red Robin Gourmet Burgers Stock Performance

RRGB opened at $7.01 on Friday. Red Robin Gourmet Burgers, Inc. has a 52 week low of $5.56 and a 52 week high of $16.50. The business has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $8.99.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). The firm had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $304.73 million. Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. On average, equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post -1.61 EPS for the current year.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.