Verition Fund Management LLC Makes New $1.08 Million Investment in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Verition Fund Management LLC bought a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the 3rd quarter, HoldingsChannel reports. The firm bought 245,407 shares of the restaurant operator’s stock, valued at approximately $1,082,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in Red Robin Gourmet Burgers by 2.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,006,937 shares of the restaurant operator’s stock worth $7,623,000 after purchasing an additional 20,100 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Red Robin Gourmet Burgers by 18.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after buying an additional 143,957 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Red Robin Gourmet Burgers by 482.8% during the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after buying an additional 526,016 shares during the period. Acuitas Investments LLC lifted its holdings 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 valued at $4,619,000 after acquiring an additional 50,172 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Red Robin Gourmet Burgers by 188.9% in the second quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock worth $2,790,000 after acquiring an additional 240,954 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Trading Down 3.6 %

RRGB stock opened at $5.59 on Monday. The business’s fifty day moving average price is $5.45 and its 200 day moving average price is $5.64. 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 $88.21 million, a PE ratio of -1.70 and a beta of 2.68.

Insiders Place Their Bets

In other Red Robin Gourmet Burgers news, insider Jumana Capital Investments Llc acquired 800,454 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the acquisition, the insider now owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 846,597 shares of company stock worth $4,393,946 over the last three months. Company insiders own 3.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RRGB shares. Lake Street Capital decreased their price target on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Craig Hallum decreased their target price on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Benchmark dropped their price target on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th.

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.