Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.34 and traded as high as $7.36. Red Robin Gourmet Burgers shares last traded at $7.03, with a volume of 140,545 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RRGB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. Benchmark restated a “buy” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Finally, Wall Street Zen lowered shares of 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 given a Sell rating to the company. According to MarketBeat, Red Robin Gourmet Burgers has an average rating of “Hold” and a consensus target price of $7.67.

Red Robin Gourmet Burgers Trading Down 0.4%

The firm has a 50-day moving average of $5.45 and a 200-day moving average of $4.34. The stock has a market capitalization of $130.06 million, a price-to-earnings ratio of -4.69 and a beta of 2.38.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $273.29 million. On average, equities research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 13,929 shares during the period. MB Generational Wealth LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 1st quarter valued at $59,000. JCP Investment Management LLC boosted its holdings in shares of Red Robin Gourmet Burgers by 0.6% in 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 acquiring an additional 10,567 shares during the last quarter. Jain Global LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter worth $47,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the fourth quarter worth $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.