Investors Purchase Large Volume of Red Robin Gourmet Burgers Put Options (RRGB)

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Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was the target of some unusual options trading activity on Tuesday. Traders purchased 1,278 put options on the stock. This is an increase of approximately 1,245% compared to the typical volume of 95 put options.

Several analysts recently issued reports on the stock. BidaskClub raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. Canaccord Genuity cut Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $65.00 to $42.00 in a research note on Thursday, August 2nd. Bank of America dropped their price objective on Red Robin Gourmet Burgers from $64.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Maxim Group dropped their price objective on Red Robin Gourmet Burgers from $68.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus dropped their price objective on Red Robin Gourmet Burgers from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.23.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Factorial Partners LLC raised its stake in shares of Red Robin Gourmet Burgers by 6.6% during the 2nd quarter. Factorial Partners LLC now owns 19,500 shares of the restaurant operator’s stock worth $909,000 after purchasing an additional 1,200 shares during the period. Legal & General Group Plc raised its stake in Red Robin Gourmet Burgers by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 28,998 shares of the restaurant operator’s stock valued at $1,357,000 after acquiring an additional 1,420 shares during the period. Rhumbline Advisers raised its stake in Red Robin Gourmet Burgers by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 31,938 shares of the restaurant operator’s stock valued at $1,488,000 after acquiring an additional 1,497 shares during the period. Winslow Evans & Crocker Inc. raised its stake in Red Robin Gourmet Burgers by 75.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 1,500 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Red Robin Gourmet Burgers by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 99,319 shares of the restaurant operator’s stock valued at $5,761,000 after acquiring an additional 2,520 shares during the period.

NASDAQ RRGB opened at $33.14 on Wednesday. The firm has a market cap of $411.99 million, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.58. Red Robin Gourmet Burgers has a one year low of $30.02 and a one year high of $67.10. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 0.59.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, November 6th. The restaurant operator reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The company had revenue of $294.90 million for the quarter, compared to analysts’ expectations of $304.11 million. Red Robin Gourmet Burgers had a return on equity of 7.20% and a net margin of 1.01%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, sell-side analysts forecast that Red Robin Gourmet Burgers will post 1.91 EPS for the current fiscal year.

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Red Robin Gourmet Burgers Company Profile

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. As of December 31, 2017, it operated 480 company-owned restaurants located in 39 states and 2 Canadian provinces; and had 86 casual-dining restaurants operated by franchisees in 15 states.

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