Peregrine Capital Management LLC Increases Position in Red Robin Gourmet Burgers, Inc. (RRGB)

Peregrine Capital Management LLC lifted its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 177,265 shares of the restaurant operator’s stock after purchasing an additional 3,598 shares during the period. Peregrine Capital Management LLC owned 1.37% of Red Robin Gourmet Burgers worth $11,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Red Robin Gourmet Burgers by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 22,970 shares of the restaurant operator’s stock valued at $1,343,000 after purchasing an additional 1,147 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Red Robin Gourmet Burgers by 11.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 108,295 shares of the restaurant operator’s stock worth $7,067,000 after buying an additional 11,261 shares in the last quarter. Crawford Lake Capital Management LLC bought a new position in Red Robin Gourmet Burgers in the second quarter worth approximately $2,084,000. Thrivent Financial For Lutherans raised its stake in Red Robin Gourmet Burgers by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 7,280 shares of the restaurant operator’s stock worth $426,000 after buying an additional 350 shares in the last quarter. Finally, Caldwell & Orkin Inc. bought a new position in Red Robin Gourmet Burgers in the second quarter worth approximately $998,000.

Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at 68.40 on Wednesday. The firm has a market capitalization of $884.21 million, a P/E ratio of 106.05 and a beta of 0.65. Red Robin Gourmet Burgers, Inc. has a 12 month low of $44.75 and a 12 month high of $74.11. The stock’s 50 day moving average price is $64.92 and its 200-day moving average price is $63.08.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. The business had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post $2.81 earnings per share for the current year.

A number of equities analysts recently commented on RRGB shares. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 9th. BTIG Research reissued a “buy” rating and issued a $70.00 price objective (up previously from $64.00) on shares of Red Robin Gourmet Burgers in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Maxim Group reissued a “buy” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Red Robin Gourmet Burgers in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Red Robin Gourmet Burgers currently has an average rating of “Hold” and an average price target of $71.73.

In other news, CFO Guy J. Constant acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $58.88 per share, with a total value of $147,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.66% of the stock is currently owned by insiders.

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Red Robin Gourmet Burgers Company 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.

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

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