Joshua Todd Wilson, the Chief Financial Officer of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), sold 6,015 shares of the company’s stock on November 17, 2023. The shares were sold at an average price of $4.15, bringing the total value of the transaction to $24,962.25. Following this sale, Wilson retains ownership of 195,487 shares, valued at approximately $811,271.05. This transaction represents a 2.99% decrease in his holdings.
The details of the sale were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which is available for public viewing.
Stock Performance and Earnings Report
On the trading day following the sale, shares of Red Robin Gourmet Burgers rose by 1.7%, closing at $4.08. The trading volume reached 127,945 shares, significantly lower than its average volume of 506,214 shares. Over the past year, the company’s stock has fluctuated between a low of $2.50 and a high of $7.89. Red Robin’s current market capitalization stands at $73.29 million, with a price-to-earnings (P/E) ratio of -1.20 and a beta of 2.55.
The company recently reported its quarterly earnings on November 10, 2023. For the quarter, Red Robin posted an earnings per share (EPS) of -0.70, surpassing analysts’ expectations of -0.78 by $0.08. Revenue for the quarter reached $265.13 million, exceeding the estimated $256.75 million.
Institutional Investor Activity
Recent trading activity has seen several institutional investors adjusting their positions in Red Robin Gourmet Burgers. Notably, BNP Paribas Financial Markets increased its stake by 503.0% during the second quarter, acquiring an additional 4,487 shares to hold a total of 5,379 shares, valued at around $31,000. Similarly, Osaic Holdings Inc. raised its stake by 152.6%, now owning 10,055 shares valued at approximately $58,000.
Additional institutional investments include Sherbrooke Park Advisers LLC, which acquired a new position worth about $70,000, and Granite Investment Partners LLC, which also entered a new stake valued at $73,000. Currently, institutional investors own 84.04% of Red Robin’s stock.
Red Robin Gourmet Burgers, Inc. operates casual dining restaurants across North America, offering a diverse menu that includes burgers, pizzas, salads, and a selection of beverages. As the company navigates a challenging market, these financial maneuvers and stock transactions reflect ongoing efforts to stabilize and grow its business.
