Investment Counselors of Maryland LLC Has $17.83 Million Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Investment Counselors of Maryland LLC grew its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 583,364 shares of the restaurant operator’s stock after buying an additional 6,377 shares during the quarter. Investment Counselors of Maryland LLC owned 4.50% of Red Robin Gourmet Burgers worth $17,833,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Red Robin Gourmet Burgers by 43,766.8% during the first quarter. BNP Paribas Arbitrage SA now owns 452,705 shares of the restaurant operator’s stock worth $13,042,000 after acquiring an additional 451,673 shares in the last quarter. Dean Investment Associates LLC bought a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at about $4,273,000. Norges Bank bought a new position in shares of Red Robin Gourmet Burgers in the fourth quarter valued at about $1,960,000. GMT Capital Corp raised its position in shares of Red Robin Gourmet Burgers by 239.5% in the first quarter. GMT Capital Corp now owns 103,095 shares of the restaurant operator’s stock valued at $2,970,000 after purchasing an additional 72,731 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Red Robin Gourmet Burgers by 11,494.3% in the first quarter. Bank of Montreal Can now owns 61,450 shares of the restaurant operator’s stock valued at $1,770,000 after purchasing an additional 60,920 shares during the period.

In other news, Director Glenn B. Kaufman purchased 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $26.50 per share, for a total transaction of $26,500.00. Following the purchase, the director now owns 29,733 shares in the company, valued at $787,924.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Vintage Capital Management Llc purchased 203,336 shares of the company’s stock in a transaction on Friday, May 31st. The shares were purchased at an average price of $25.97 per share, for a total transaction of $5,280,635.92. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 206,336 shares of company stock worth $5,359,136. Company insiders own 2.08% of the company’s stock.

NASDAQ:RRGB traded up $0.48 during mid-day trading on Wednesday, hitting $33.38. 8,076 shares of the company’s stock traded hands, compared to its average volume of 272,758. The company has a fifty day moving average of $32.14 and a 200 day moving average of $30.98. Red Robin Gourmet Burgers, Inc. has a twelve month low of $24.57 and a twelve month high of $42.50. The company has a market capitalization of $426.71 million, a P/E ratio of 19.30, a P/E/G ratio of 2.61 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.30 and a current ratio of 0.44.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Thursday, May 30th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.29). The business had revenue of $409.87 million for the quarter, compared to analyst estimates of $408.98 million. Red Robin Gourmet Burgers had a negative net margin of 0.77% and a positive return on equity of 4.14%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. On average, research analysts expect that Red Robin Gourmet Burgers, Inc. will post 1.25 earnings per share for the current fiscal year.

RRGB has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on shares of Red Robin Gourmet Burgers from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. ValuEngine lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TheStreet raised shares of Red Robin Gourmet Burgers from a “d+” rating to a “c” rating in a research report on Thursday, May 30th. Maxim Group reissued a “buy” rating and issued a $44.00 price objective (down from $49.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 7th. Finally, Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.44.

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

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