Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Sees Significant Decrease in Short Interest

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,500,000 shares, a drop of 11.7% from the September 30th total of 2,830,000 shares. Currently, 22.1% of the company’s shares are short sold. Based on an average daily volume of 288,600 shares, the short-interest ratio is currently 8.7 days.

Shares of NASDAQ:RRGB traded down $0.13 on Friday, reaching $26.09. The company’s stock had a trading volume of 149,900 shares, compared to its average volume of 257,102. The stock’s 50-day moving average is $30.94 and its two-hundred day moving average is $31.82. The stock has a market capitalization of $339.28 million, a P/E ratio of 15.08, a PEG ratio of 3.46 and a beta of 1.23. Red Robin Gourmet Burgers has a 52-week low of $24.57 and a 52-week high of $36.85. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.38 and a quick ratio of 0.24.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, November 5th. The restaurant operator reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The business had revenue of $294.22 million during the quarter, compared to analyst estimates of $289.52 million. Red Robin Gourmet Burgers had a negative net margin of 0.82% and a positive return on equity of 4.89%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities analysts forecast that Red Robin Gourmet Burgers will post 0.78 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Kavar Capital Partners LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $31,000. Tower Research Capital LLC TRC lifted its stake in shares of Red Robin Gourmet Burgers by 65.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the restaurant operator’s stock valued at $125,000 after buying an additional 1,629 shares during the period. Aperio Group LLC purchased a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at approximately $153,000. State of Tennessee Treasury Department lifted its stake in shares of Red Robin Gourmet Burgers by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 5,697 shares of the restaurant operator’s stock valued at $189,000 after buying an additional 448 shares during the period. Finally, Harvest Management LLC purchased a new position in shares of Red Robin Gourmet Burgers during the third quarter valued at approximately $233,000.

RRGB has been the subject of several research reports. Bank of America downgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to an “underperform” rating and set a $30.00 target price for the company. in a report on Tuesday, August 27th. Morgan Stanley boosted their price target on shares of Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. BidaskClub downgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 9th. Maxim Group dropped their price target on shares of Red Robin Gourmet Burgers from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, ValuEngine upgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.00.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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