Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Position Reduced by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,949 shares of the restaurant operator’s stock after selling 1,494 shares during the period. Arizona State Retirement System owned about 0.15% of Red Robin Gourmet Burgers worth $883,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RRGB. 6 Meridian grew its stake in Red Robin Gourmet Burgers by 9.2% in the first quarter. 6 Meridian now owns 11,449 shares of the restaurant operator’s stock worth $664,000 after purchasing an additional 966 shares in the last quarter. Northern Trust Corp grew its stake in Red Robin Gourmet Burgers by 0.5% in the first quarter. Northern Trust Corp now owns 181,817 shares of the restaurant operator’s stock worth $10,546,000 after purchasing an additional 971 shares in the last quarter. Swiss National Bank grew its stake in Red Robin Gourmet Burgers by 4.7% in the first quarter. Swiss National Bank now owns 22,500 shares of the restaurant operator’s stock worth $1,305,000 after purchasing an additional 1,000 shares in the last quarter. Factorial Partners LLC grew its stake in Red Robin Gourmet Burgers by 6.6% in the second quarter. Factorial Partners LLC now owns 19,500 shares of the restaurant operator’s stock worth $909,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Red Robin Gourmet Burgers by 4.9% in the second quarter. Rhumbline Advisers now owns 31,938 shares of the restaurant operator’s stock worth $1,488,000 after purchasing an additional 1,497 shares in the last quarter.

RRGB has been the subject of a number of research reports. Wells Fargo & Co decreased their price target on Red Robin Gourmet Burgers from $54.00 to $42.00 and set a “market perform” rating for the company in a research note on Thursday, August 2nd. Morgan Stanley decreased their target price on Red Robin Gourmet Burgers from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, August 3rd. BidaskClub upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Finally, Raymond James downgraded Red Robin Gourmet Burgers from an “outperform” rating to a “market perform” rating and set a $75.00 target price for the company. in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Red Robin Gourmet Burgers currently has a consensus rating of “Hold” and an average target price of $53.73.

RRGB stock traded down $0.11 during midday trading on Friday, reaching $38.41. The company had a trading volume of 236,539 shares, compared to its average volume of 343,615. The company has a market cap of $521.81 million, a P/E ratio of 15.43, a PEG ratio of 2.18 and a beta of 0.28. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 0.59. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $36.20 and a fifty-two week high of $70.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 21st. The restaurant operator reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. The company had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $317.38 million. Red Robin Gourmet Burgers had a return on equity of 7.20% and a net margin of 1.01%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. Analysts expect that Red Robin Gourmet Burgers, Inc. will post 1.91 EPS for the current fiscal year.

Red Robin Gourmet Burgers Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. As of December 31, 2017, it operated 480 company-owned restaurants located in 39 states and 2 Canadian provinces; and had 86 casual-dining restaurants operated by franchisees in 15 states.

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Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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