Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)’s stock price passed 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.

Wall Street Analysts Forecast Growth

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

Red Robin Gourmet Burgers Trading Down 0.8%

The firm has a market capitalization of $115.81 million, a price-to-earnings ratio of -4.17 and a beta of 2.48. The firm has a fifty day moving average price of $4.24 and a 200 day moving average price of $3.96.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share 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. As a group, equities analysts predict that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in shares of Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 4,487 shares during the last quarter. Jain Global LLC bought a new stake in Red Robin Gourmet Burgers during the 4th quarter worth about $47,000. Osaic Holdings Inc. grew its holdings in Red Robin Gourmet Burgers by 152.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after acquiring an additional 6,075 shares during the last quarter. MB Generational Wealth LLC acquired a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $59,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $61,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

About Red Robin Gourmet Burgers

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.