Wedge Capital Management L L P NC Has $24.26 Million Position in Red Robin Gourmet Burgers, Inc. (RRGB)

Wedge Capital Management L L P NC lessened its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 362,081 shares of the restaurant operator’s stock after selling 10,248 shares during the period. Wedge Capital Management L L P NC owned 2.80% of Red Robin Gourmet Burgers worth $24,259,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Red Robin Gourmet Burgers by 43,842.6% in the 1st quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock worth $91,256,000 after acquiring an additional 1,557,726 shares during the period. Daruma Capital Management LLC raised its holdings in Red Robin Gourmet Burgers by 225.6% in the 2nd quarter. Daruma Capital Management LLC now owns 856,225 shares of the restaurant operator’s stock worth $55,869,000 after acquiring an additional 593,278 shares during the period. Monarch Partners Asset Management LLC raised its holdings in Red Robin Gourmet Burgers by 200.1% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 242,662 shares of the restaurant operator’s stock worth $15,834,000 after acquiring an additional 161,802 shares during the period. Falcon Point Capital LLC bought a new position in Red Robin Gourmet Burgers in the 2nd quarter worth $9,414,000. Finally, Castleark Management LLC bought a new position in Red Robin Gourmet Burgers in the 2nd quarter worth $7,376,000.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) traded down $0.05 during trading hours on Friday, hitting $66.95. 395,108 shares of the stock traded hands, compared to its average volume of 261,789. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.36 and a current ratio of 0.55. The company has a market cap of $865.53, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.33 and a beta of 0.67. Red Robin Gourmet Burgers, Inc. has a one year low of $45.20 and a one year high of $74.11.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million for 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%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. research analysts forecast that Red Robin Gourmet Burgers, Inc. will post 2.78 EPS for the current fiscal year.

In related news, CFO Guy J. Constant purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $58.88 per share, with a total value of $147,200.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.66% of the stock is currently owned by insiders.

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RRGB has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $70.00 target price (up previously from $64.00) on shares of Red Robin Gourmet Burgers in a report on Tuesday, September 12th. Raymond James Financial, Inc. set a $75.00 target price on shares of Red Robin Gourmet Burgers and gave the stock a “buy” rating in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 target price (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, August 9th. Maxim Group reiterated a “buy” rating and issued a $75.00 target price on shares of Red Robin Gourmet Burgers in a 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 target price on the stock in a report on Tuesday, October 10th. Two equities 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 company. The stock has an average rating of “Hold” and a consensus price target of $71.73.

About Red Robin Gourmet Burgers

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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