Wolverine Trading LLC Acquires New Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Wolverine Trading LLC acquired a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,446 shares of the restaurant operator’s stock, valued at approximately $55,000. Wolverine Trading LLC owned approximately 0.08% of Red Robin Gourmet Burgers as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP raised its stake in shares of Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock valued at $2,800,000 after acquiring an additional 526,016 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Red Robin Gourmet Burgers during the third quarter worth approximately $537,000. Verition Fund Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the third quarter worth approximately $1,082,000. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 18.8% during the second 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. Finally, Resolute Capital Asset Partners LLC acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter worth approximately $1,135,000. 84.04% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jumana Capital Investments Llc acquired 800,454 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the transaction, the insider now owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 846,597 shares of company stock worth $4,393,946. Company insiders own 3.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Red Robin Gourmet Burgers Trading Down 2.2 %

RRGB opened at $5.18 on Wednesday. The stock has a market cap of $81.74 million, a PE ratio of -1.57 and a beta of 2.68. Red Robin Gourmet Burgers, Inc. has a 1 year low of $2.97 and a 1 year high of $12.80. The stock’s 50 day simple moving average is $5.54 and its 200-day simple moving average is $5.55.

About Red Robin Gourmet Burgers

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.