Insider Selling: Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Sells 8,627 Shares of Stock

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) CEO Gerard Johan Hart sold 8,627 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $4.16, for a total transaction of $35,888.32. Following the completion of the sale, the chief executive officer now directly owns 556,225 shares in the company, valued at approximately $2,313,896. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gerard Johan Hart also recently made the following trade(s):

• On Friday, March 21st, Gerard Johan Hart sold 10,418 shares of Red Robin Gourmet Burgers stock. The shares were sold at an average price of $4.16, for a total value of $43,338.88.
• On Monday, March 17th, Gerard Johan Hart sold 11,467 shares of Red Robin Gourmet Burgers stock. The stock was sold at an average price of $4.39, for a total value of $50,340.13.
• On Friday, March 14th, Gerard Johan Hart sold 11,997 shares of Red Robin Gourmet Burgers stock. The shares were sold at an average price of $4.46, for a total value of $53,506.62.

Red Robin Gourmet Burgers Stock Performance

Shares of NASDAQ:RRGB opened at $3.97 on Thursday. The business has a fifty day moving average of $5.13 and a 200-day moving average of $5.15. Red Robin Gourmet Burgers, Inc. has a twelve month low of $2.97 and a twelve month high of $9.20. The firm has a market cap of $69.34 million, a PE ratio of -1.21 and a beta of 2.70.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The business had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.20 million. During the same period in the previous year, the company posted ($0.66) earnings per share. On average, analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at $34,000. Verition Fund Management LLC bought a new position in Red Robin Gourmet Burgers in the third quarter valued at about $1,082,000. PDT Partners LLC increased its position in Red Robin Gourmet Burgers by 159.5% in the third quarter. PDT Partners LLC now owns 151,360 shares of the restaurant operator’s stock worth $667,000 after purchasing an additional 93,040 shares during the period. Wolverine Trading LLC bought a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth about $55,000. Finally, XTX Topco Ltd lifted its position in Red Robin Gourmet Burgers by 139.9% during the 3rd quarter. XTX Topco Ltd now owns 79,246 shares of the restaurant operator’s stock valued at $349,000 after purchasing an additional 46,219 shares during the period. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RRGB. CL King upgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Saturday, March 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.38.

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.