Cornerstone Capital Management Holdings LLC. Acquires Shares of 4,200 Red Robin Gourmet Burgers, Inc. (RRGB)

Cornerstone Capital Management Holdings LLC. acquired a new stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,200 shares of the restaurant operator’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Red Robin Gourmet Burgers by 10.3% during the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 164 shares during the period. ClariVest Asset Management LLC acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $105,000. Acadian Asset Management LLC acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $149,000. Seven Eight Capital LP acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $163,000. Finally, Advisor Group Inc. acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $163,000.

RRGB has been the subject of several research reports. BTIG Research restated a “buy” rating and set a $70.00 price objective (up from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Raymond James Financial, Inc. set a $75.00 price objective on shares of Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Canaccord Genuity restated a “buy” rating and set a $80.00 price objective (down from $90.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. Maxim Group restated a “buy” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.73.

In other news, CFO Guy J. Constant bought 2,500 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $58.88 per share, for a total transaction of $147,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.66% of the company’s stock.

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Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at 69.65 on Monday. Red Robin Gourmet Burgers, Inc. has a 52-week low of $44.75 and a 52-week high of $74.11. The stock has a 50 day moving average of $64.31 and a 200-day moving average of $62.90. The firm has a market capitalization of $900.37 million, a P/E ratio of 107.98 and a beta of 0.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. Red Robin Gourmet Burgers’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities analysts expect that Red Robin Gourmet Burgers, Inc. will post $2.80 earnings per share for the current fiscal year.

Red Robin Gourmet Burgers Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

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

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