Resolute Capital Asset Partners LLC Makes New $1.14 Million Investment in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Resolute Capital Asset Partners LLC bought a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the second quarter, HoldingsChannel reports. The fund bought 150,000 shares of the restaurant operator’s stock, valued at approximately $1,135,000.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $25,000. PNC Financial Services Group Inc. lifted its position in shares of Red Robin Gourmet Burgers by 57.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock worth $85,000 after purchasing an additional 2,491 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at $149,000. Quadrature Capital Ltd purchased a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at $166,000. Finally, BNP Paribas Financial Markets grew its holdings in Red Robin Gourmet Burgers by 48.0% during the 1st quarter. BNP Paribas Financial Markets now owns 37,259 shares of the restaurant operator’s stock valued at $285,000 after purchasing an additional 12,082 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Price Performance

Shares of RRGB stock opened at $3.71 on Thursday. The firm has a fifty day moving average of $4.74 and a two-hundred day moving average of $6.30. The firm has a market cap of $58.19 million, a P/E ratio of -2.11 and a beta of 2.74. Red Robin Gourmet Burgers, Inc. has a 1-year low of $2.97 and a 1-year high of $12.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Thursday, August 22nd. The restaurant operator reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The firm had revenue of $300.15 million for the quarter, compared to analyst estimates of $295.57 million. During the same quarter last year, the firm earned ($0.24) earnings per share. On average, sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -2.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Lake Street Capital cut their price objective on shares of Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Benchmark cut their price target on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Craig Hallum lowered their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.13.

Red Robin Gourmet Burgers 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.