Ergoteles LLC Sells 390,521 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Ergoteles LLC cut its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Rating) by 95.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,410 shares of the restaurant operator’s stock after selling 390,521 shares during the quarter. Ergoteles LLC owned about 0.11% of Red Robin Gourmet Burgers worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in Red Robin Gourmet Burgers in the third quarter worth $96,000. Pacific Ridge Capital Partners LLC bought a new stake in Red Robin Gourmet Burgers in the third quarter worth $983,000. Rutabaga Capital Management LLC MA boosted its holdings in Red Robin Gourmet Burgers by 12.2% in the third quarter. Rutabaga Capital Management LLC MA now owns 691,244 shares of the restaurant operator’s stock worth $4,652,000 after acquiring an additional 75,350 shares in the last quarter. Raymond James & Associates boosted its holdings in Red Robin Gourmet Burgers by 17.4% in the third quarter. Raymond James & Associates now owns 64,675 shares of the restaurant operator’s stock worth $435,000 after acquiring an additional 9,600 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Red Robin Gourmet Burgers by 517.0% in the second quarter. Federated Hermes Inc. now owns 328,258 shares of the restaurant operator’s stock worth $2,636,000 after acquiring an additional 275,060 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors.

Red Robin Gourmet Burgers Stock Up 5.5 %

Red Robin Gourmet Burgers stock opened at $12.34 on Thursday. The stock has a market cap of $197.32 million, a PE ratio of -2.52 and a beta of 2.72. The company has a debt-to-equity ratio of 37.80, a quick ratio of 0.43 and a current ratio of 0.55. Red Robin Gourmet Burgers, Inc. has a one year low of $5.35 and a one year high of $18.64. The stock has a fifty day moving average of $8.91 and a 200 day moving average of $7.98.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RRGB shares. CL King started coverage on Red Robin Gourmet Burgers in a report on Tuesday, December 20th. They issued a “neutral” rating on the stock. Jefferies Financial Group downgraded Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Finally, Benchmark raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

Insider Activity at Red Robin Gourmet Burgers

In other news, insider Joshua Todd Wilson acquired 10,000 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, March 3rd. The stock was bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the insider now owns 55,395 shares in the company, valued at $621,531.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by company insiders.

Red Robin Gourmet Burgers Profile

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Red Robin Gourmet Burgers, Inc develops, operates, and franchises full-service restaurants North America. It serves a variety of salads, soups, appetizers, other entrees, desserts, signature alcoholic and non-alcoholic beverages. The company was founded in September 1969 and is headquartered in Englewood, CO.