As of Friday, Red Robin Gourmet Burgers Inc.’s (NASDAQ:RRGB) stock closed at $8.87, up from $8.59 the previous day. While Red Robin Gourmet Burgers Inc. has overperformed by 3.32%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RRGB fell by -44.91%, with highs and lows ranging from $18.64 to $5.35, whereas the simple moving average jumped by 0.34% in the last 200 days.
On December 21, 2022, Jefferies Downgraded Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) to Hold. The Benchmark Company initiated its ‘Buy’ rating for RRGB, as published in its report on November 23, 2021. Jefferies’s report from September 24, 2021 suggests a price prediction of $31 for RRGB shares, giving the stock a ‘Buy’ rating. CL King also rated the stock as ‘Buy’.
Analysis of Red Robin Gourmet Burgers Inc. (RRGB)
Further, the quarter-over-quarter increase in sales is 4.20%, showing a positive trend in the upcoming months.
One of the most important indicators of Red Robin Gourmet Burgers Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -82.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and RRGB is recording 243.44K average volume. On a monthly basis, the volatility of the stock is set at 6.85%, whereas on a weekly basis, it is put at 8.76%, with a gain of 39.47% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.50, showing decline from the present price of $8.87, which can serve as yet another indication of whether RRGB is worth investing in or should be passed over.
How Do You Analyze Red Robin Gourmet Burgers Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 70.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RRGB shares?
The recent increase in stakes in RRGB appears to be a result of several institutional investors and hedge funds increasing their positions. American Century Investment Manag’s position in RRGB has increased by 1.97% in the first quarter. The company now owns 1,921,481 shares of the stock, with a value of $10.72 million, following the purchase of 37,167 additional shares during the last quarter.
At the end of the first quarter, Rutabaga Capital Management LLC increased its RRGB holdings by 12.23% and now holds 0.69 million RRGB shares valued at $3.86 million with the added 75350.0 shares during the period. RRGB shares are owned by institutional investors to the tune of 70.20% at present.