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

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

NASDAQ:RRGB traded up $0.37 during mid-day trading on Monday, hitting $26.46. 5,556 shares of the stock traded hands, compared to its average volume of 257,102. The business’s 50-day moving average price is $30.94 and its 200 day moving average price is $31.82. The company has a market cap of $339.28 million, a PE ratio of 15.29, a price-to-earnings-growth ratio of 3.46 and a beta of 1.23. Red Robin Gourmet Burgers has a 12-month low of $24.57 and a 12-month high of $36.85. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 1.82.

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 Zacks’ consensus estimate of ($0.22) by ($0.02). Red Robin Gourmet Burgers had a positive return on equity of 4.89% and a negative net margin of 0.82%. The company had revenue of $294.22 million during the quarter, compared to analysts’ expectations of $289.52 million. During the same period in the prior year, the firm earned $0.16 EPS. Red Robin Gourmet Burgers’s quarterly revenue was down .2% on a year-over-year basis. Analysts anticipate that Red Robin Gourmet Burgers will post 0.78 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. Raymond James reissued a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Friday, September 6th. Maxim Group decreased their target price on shares of Red Robin Gourmet Burgers from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley increased their target price on shares of Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Bank of America lowered shares of Red Robin Gourmet Burgers from a “neutral” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Tuesday, August 27th. Finally, Stephens set a $36.00 price objective on shares of Red Robin Gourmet Burgers and gave the company a “buy” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.00.

A number of large investors have recently bought and sold shares of RRGB. State of Tennessee Treasury Department raised 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 acquiring an additional 448 shares during the last quarter. Swiss National Bank grew its holdings in Red Robin Gourmet Burgers by 2.5% in the second quarter. Swiss National Bank now owns 24,200 shares of the restaurant operator’s stock worth $740,000 after purchasing an additional 600 shares during the period. Kavar Capital Partners LLC acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at about $31,000. Smith Graham & Co. Investment Advisors LP grew its holdings in shares of Red Robin Gourmet Burgers by 0.6% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 201,564 shares of the restaurant operator’s stock valued at $6,704,000 after buying an additional 1,120 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 1,629 shares in the last quarter.

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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