State of Alaska Department of Revenue Buys 1,112 Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

State of Alaska Department of Revenue boosted its stake in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 77.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,542 shares of the restaurant operator’s stock after buying an additional 1,112 shares during the period. State of Alaska Department of Revenue’s holdings in Red Robin Gourmet Burgers were worth $165,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after buying an additional 1,557,726 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares in the last quarter. Ameriprise Financial Inc. raised its position in Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares in the last quarter. Vanguard Group Inc. raised its position in Red Robin Gourmet Burgers by 4.9% in the first quarter. Vanguard Group Inc. now owns 668,118 shares of the restaurant operator’s stock valued at $39,052,000 after buying an additional 30,946 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Red Robin Gourmet Burgers by 2.0% in the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after buying an additional 10,250 shares in the last quarter.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ RRGB) opened at 59.30 on Friday. The stock has a market capitalization of $766.57 million, a P/E ratio of 91.94 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a 12-month low of $40.85 and a 12-month high of $74.11. The firm’s 50-day moving average price is $61.37 and its 200 day moving average price is $58.88.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.75 EPS for the current fiscal year.

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Several equities analysts recently commented on RRGB shares. Canaccord Genuity reissued a “buy” rating and set a $80.00 price target (down from $90.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. TheStreet raised Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research report on Thursday, May 18th. Zacks Investment Research raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, May 19th. Maxim Group reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 17th. Finally, BTIG Research raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Red Robin Gourmet Burgers currently has an average rating of “Hold” and an average price target of $72.80.

In other news, CFO Guy J. Constant acquired 2,500 shares of Red Robin Gourmet Burgers stock in a transaction on Monday, August 14th. The stock was bought at an average price of $58.88 per share, for a total transaction of $147,200.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Glenn B. Kaufman sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $72.25, for a total value of $289,000.00. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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