Federated Hermes Inc. Sells 219,724 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Federated Hermes Inc. reduced its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 91.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,275 shares of the restaurant operator’s stock after selling 219,724 shares during the period. Federated Hermes Inc. owned approximately 0.13% of Red Robin Gourmet Burgers worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RRGB. Western Standard LLC purchased a new position in Red Robin Gourmet Burgers in the first quarter worth about $2,156,000. Fund 1 Investments LLC boosted its holdings in shares of Red Robin Gourmet Burgers by 253.0% in the fourth quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock worth $3,796,000 after buying an additional 218,187 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in Red Robin Gourmet Burgers by 20.3% during the first quarter. Pacific Ridge Capital Partners LLC now owns 767,048 shares of the restaurant operator’s stock valued at $5,876,000 after buying an additional 129,460 shares during the last quarter. First Eagle Investment Management LLC raised its position in Red Robin Gourmet Burgers by 11.0% in the first quarter. First Eagle Investment Management LLC now owns 986,837 shares of the restaurant operator’s stock worth $7,559,000 after acquiring an additional 97,424 shares during the period. Finally, Acuitas Investments LLC raised its position in Red Robin Gourmet Burgers by 9.0% in the second quarter. Acuitas Investments LLC now owns 610,193 shares of the restaurant operator’s stock worth $4,619,000 after acquiring an additional 50,172 shares during the period. Institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Trading Up 5.9 %

Shares of RRGB opened at $4.64 on Wednesday. The business’s 50 day moving average is $4.58 and its 200 day moving average is $6.20. Red Robin Gourmet Burgers, Inc. has a 12-month low of $2.97 and a 12-month high of $12.80. The company has a market capitalization of $72.77 million, a PE ratio of -2.64 and a beta of 2.74.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its 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 analysts’ expectations of $295.57 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. Equities research analysts predict that Red Robin Gourmet Burgers, Inc. will post -2.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Craig Hallum reduced 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. Lake Street Capital reduced their price target on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Benchmark lowered their price objective on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Red Robin Gourmet Burgers 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.