Investors Buy Large Volume of Put Options on Red Robin Gourmet Burgers (RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) saw some unusual options trading on Wednesday. Stock investors purchased 2,396 put options on the stock. This is an increase of 2,504% compared to the typical daily volume of 92 put options.

In other Red Robin Gourmet Burgers news, COO Carin Stutz purchased 715 shares of the stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $49.15 per share, with a total value of $35,142.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.66% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Red Robin Gourmet Burgers by 6.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,871 shares of the restaurant operator’s stock valued at $122,000 after buying an additional 112 shares during the period. Daiwa Securities Group Inc. bought a new position in Red Robin Gourmet Burgers during the third quarter worth about $147,000. Seven Eight Capital LP bought a new position in Red Robin Gourmet Burgers during the second quarter worth about $163,000. Advisor Group Inc. bought a new position in Red Robin Gourmet Burgers during the second quarter worth about $163,000. Finally, 361 Capital LLC bought a new position in Red Robin Gourmet Burgers during the third quarter worth about $212,000.

Shares of Red Robin Gourmet Burgers (RRGB) opened at $54.05 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.56 and a quick ratio of 0.37. Red Robin Gourmet Burgers has a one year low of $45.20 and a one year high of $74.11. The firm has a market cap of $699.19, a PE ratio of 56.90, a P/E/G ratio of 1.98 and a beta of 0.56.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Monday, November 6th. The restaurant operator reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.09). Red Robin Gourmet Burgers had a net margin of 0.94% and a return on equity of 7.32%. The company had revenue of $304.20 million during the quarter, compared to the consensus estimate of $308.44 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. research analysts forecast that Red Robin Gourmet Burgers will post 2.26 EPS for the current year.

Several equities research analysts have recently issued reports on the company. Maxim Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a research report on Monday, October 30th. Stifel Nicolaus assumed coverage on Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They issued a “hold” rating and a $62.00 price target on the stock. Jefferies Group lowered their price target on Red Robin Gourmet Burgers from $61.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, November 7th. Raymond James Financial downgraded Red Robin Gourmet Burgers from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $77.50 to $65.00 in a research report on Tuesday, November 7th. Finally, BTIG Research lowered their price target on Red Robin Gourmet Burgers from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $69.45.

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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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