Royal Bank of Canada Decreases Stake in Red Robin Gourmet Burgers, Inc. (RRGB)

Royal Bank of Canada cut its holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 69,709 shares of the restaurant operator’s stock after selling 9,603 shares during the period. Royal Bank of Canada owned about 0.54% of Red Robin Gourmet Burgers worth $4,549,000 as of its most recent filing with the SEC.

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

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant bought 2,500 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought 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 at the SEC website. Corporate insiders own 2.66% of the company’s stock.

Several research analysts have recently commented on RRGB shares. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, October 10th. Stifel Nicolaus initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They issued a “hold” rating and a $62.00 price objective on the stock. BidaskClub downgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. BTIG Research reiterated a “buy” rating and issued a $70.00 price objective (up from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Finally, Maxim Group reiterated a “buy” rating and issued a $75.00 price objective (down from $80.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, August 1st. 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. Red Robin Gourmet Burgers has a consensus rating of “Hold” and a consensus price target of $71.73.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/23/royal-bank-of-canada-decreases-stake-in-red-robin-gourmet-burgers-inc-rrgb.html.

Shares of Red Robin Gourmet Burgers, Inc. (RRGB) opened at 66.50 on Monday. The company has a market capitalization of $859.65 million, a P/E ratio of 103.10 and a beta of 0.65. Red Robin Gourmet Burgers, Inc. has a 52-week low of $40.85 and a 52-week high of $74.11. The firm’s 50 day moving average is $63.09 and its 200-day moving average is $62.54.

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

Red Robin Gourmet Burgers Company Pr

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

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant bought 2,500 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought 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 at the SEC website. Corporate insiders own 2.66% of the company’s stock.

Several research analysts have recently commented on RRGB shares. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, October 10th. Stifel Nicolaus initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They issued a “hold” rating and a $62.00 price objective on the stock. BidaskClub downgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. BTIG Research reiterated a “buy” rating and issued a $70.00 price objective (up from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Finally, Maxim Group reiterated a “buy” rating and issued a $75.00 price objective (down from $80.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, August 1st. 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. Red Robin Gourmet Burgers has a consensus rating of “Hold” and a consensus price target of $71.73.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/23/royal-bank-of-canada-decreases-stake-in-red-robin-gourmet-burgers-inc-rrgb.html.

Shares of Red Robin Gourmet Burgers, Inc. (RRGB) opened at 66.50 on Monday. The company has a market capitalization of $859.65 million, a P/E ratio of 103.10 and a beta of 0.65. Red Robin Gourmet Burgers, Inc. has a 52-week low of $40.85 and a 52-week high of $74.11. The firm’s 50 day moving average is $63.09 and its 200-day moving average is $62.54.

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

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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