RK Capital Management LLC Has $4.74 Million Stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

RK Capital Management LLC raised its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 54.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 342,600 shares of the restaurant operator’s stock after buying an additional 120,400 shares during the period. RK Capital Management LLC’s holdings in Red Robin Gourmet Burgers were worth $4,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter valued at approximately $642,000. Bank of Montreal Can bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter valued at approximately $1,492,000. Acadian Asset Management LLC bought a new position in Red Robin Gourmet Burgers in the second quarter valued at approximately $3,337,000. Oppenheimer & Co. Inc. bought a new position in Red Robin Gourmet Burgers in the first quarter valued at approximately $211,000. Finally, UBS Group AG boosted its stake in Red Robin Gourmet Burgers by 113.9% in the first quarter. UBS Group AG now owns 3,850 shares of the restaurant operator’s stock valued at $55,000 after acquiring an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.

Red Robin Gourmet Burgers Trading Down 1.6 %

NASDAQ:RRGB opened at $9.24 on Tuesday. The company has a debt-to-equity ratio of 62.16, a current ratio of 0.55 and a quick ratio of 0.42. The business’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $11.34. Red Robin Gourmet Burgers, Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $16.50. The stock has a market capitalization of $143.04 million, a PE ratio of -2.89 and a beta of 2.90.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Friday, August 18th. StockNews.com assumed coverage on shares of Red Robin Gourmet Burgers in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of Red Robin Gourmet Burgers from $12.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, October 3rd.

Insiders Place Their Bets

In related news, major shareholder Archon Capital Management Llc acquired 50,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was bought at an average price of $7.43 per share, with a total value of $371,500.00. Following the completion of the transaction, the insider now directly owns 1,864,692 shares of the company’s stock, valued at $13,854,661.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Red Robin Gourmet Burgers Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. The company's restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.