Nordea Investment Management AB Acquires 2,636 Shares of Red Robin Gourmet Burgers, Inc. (RRGB)

Nordea Investment Management AB raised its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 119,369 shares of the restaurant operator’s stock after buying an additional 2,636 shares during the period. Nordea Investment Management AB owned about 0.93% of Red Robin Gourmet Burgers worth $6,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RRGB. Benjamin F. Edwards & Company Inc. raised its position in Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares during the last quarter. Mason Street Advisors LLC increased its stake in Red Robin Gourmet Burgers by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,007 shares of the restaurant operator’s stock worth $176,000 after buying an additional 197 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Red Robin Gourmet Burgers by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the restaurant operator’s stock worth $136,000 after buying an additional 50 shares during the period. Cim Investment Mangement Inc. bought a new stake in Red Robin Gourmet Burgers during the fourth quarter worth about $221,000. Finally, Financial Advisory Service Inc. bought a new stake in Red Robin Gourmet Burgers during the first quarter worth about $241,000.

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

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) traded up 2.60% during mid-day trading on Friday, hitting $72.95. 788,493 shares of the stock were exchanged. Red Robin Gourmet Burgers, Inc. has a 52-week low of $40.85 and a 52-week high of $74.11. The stock has a market cap of $938.94 million, a price-to-earnings ratio of 106.96 and a beta of 0.85. The stock has a 50 day moving average of $59.66 and a 200-day moving average of $53.40.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 EPS for the quarter, beating the consensus estimate of $0.58 by $0.31. The firm had revenue of $418.60 million for the quarter, compared to analyst estimates of $416.48 million. Red Robin Gourmet Burgers had a return on equity of 11.87% and a net margin of 2.49%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. Equities analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.88 EPS for the current fiscal year.

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Several equities analysts have recently weighed in on RRGB shares. Maxim Group reiterated a “buy” rating and issued a $80.00 target price (up previously from $75.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Bank of America Corp raised shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $80.00 in a research note on Wednesday. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday. TheStreet raised shares of Red Robin Gourmet Burgers from a “c” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $58.00 price objective (up previously from $53.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.88.

In related news, CFO Guy J. Constant bought 5,000 shares of the business’s stock in a transaction on Friday, February 24th. The shares were bought at an average price of $47.30 per share, for a total transaction of $236,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

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.

5 Day Chart for NASDAQ:RRGB

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