The stock is trading at $68.40 which is just over $64.92, the stock’s 50 day moving average and which is marginally over the 200 day moving average of $63.08. The 50 day moving average went up $3.48 or +5.36% whereas the 200 day moving average was up $5.32 or +8.43%. 254K shares changed hands in the last trading session. Shares saw a steep increase in trading volume of 7.26% over the normal average daily volume.
Investors are more bearish on Red Robin Gourmet Burgers, Inc. of late if you take note of the motion in short interest. The stock recorded a rise in short interest of 3.85% as of October 13, 2017 from the last reporting period. Short shares grew from 4,426,473 to 4,597,082 over that timeframe. Days to cover increased from 15.0 to 19.0 and the percentage of shorted shares was 0.36% on October 13.
The following firms have recently changed their position in RRGB. As of quarter end Nationwide Fund Advisors had disposed of 243 shares trimming its holdings by 2.5%. The value in dollars increased from $626,000 to $627,000 increasing 0.2% quarter to quarter. As of the end of the quarter Peregrine Capital Management LLC had bought a total of 3,598 shares growing its position 2.1%. The value of the investment in (RRGB) went from $11,332,000 to $11,877,000 a change of 4.8% quarter over quarter.
As of the end of the quarter Aperio Group, LLC had sold 477 shares trimming its stake by 4.3%. The value of the company’s investment in Red Robin Gourmet Burgers, Inc. decreased from $718,000 to $706,000 a change of $12,000 for the reporting period. As of quarter end Raymond James Financial Services Advisors, Inc. had sold a total of 1,257 shares trimming its stake by 9.1%. The value of the investment in RRGB went from $905,000 to $845,000 a change of $60,000 since the last quarter.
On August 9 the company was rated “Buy” in a report from BTIG Research which was a boost from the previous “Neutral” rating. August 9 investment analysts at Raymond James kept the stock rating at “Strong Buy” but lowered the price expectation from $80.00 to $75.00.
On October 3, 2017 Stifel Nicolaus initiated coverage on RRGB with a rating of “Hold”.
Red Robin Gourmet Burgers, Inc.’s P/E ratio is 106.05 and the market value is 884.21M. As of the last earnings report the EPS was $0.64 and is expected to be $2.81 for the current year with 12,927,000 shares now outstanding. Next quarter’s EPS is estimated at $1.01 with next year’s EPS projected to be $3.38.
Red Robin Gourmet Burgers, Inc., launched on January 17, 2001, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Business’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. It also offers burgers made from chicken breasts, fish fillets, turkey patties, as well as vegetarian and vegan options. It offered a selection of buns, including ciabatta, gluten free, sesame, onion, whole grain, jalapeno and lettuce wraps a range of toppings, including fresh guacamole, house made barbeque sauces, aiolis, grilled pineapple, crispy onion straws, sauteed mushrooms, fried jalapenos, bruschetta salsa, coleslaw, eight different cheese choices and a fried egg, as of December 25, 2016..