Geode Capital Management LLC Raises Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

Geode Capital Management LLC lifted its holdings in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 12.2% in the third quarter, HoldingsChannel reports. The firm owned 194,316 shares of the restaurant operator’s stock after acquiring an additional 21,062 shares during the period. Geode Capital Management LLC’s holdings in Red Robin Gourmet Burgers were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. XTX Topco Ltd increased its stake in shares of Red Robin Gourmet Burgers by 139.9% during the 3rd quarter. XTX Topco Ltd now owns 79,246 shares of the restaurant operator’s stock worth $349,000 after purchasing an additional 46,219 shares in the last quarter. Wolverine Trading LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth approximately $55,000. PDT Partners LLC increased its stake in shares of Red Robin Gourmet Burgers by 159.5% during the 3rd quarter. PDT Partners LLC now owns 151,360 shares of the restaurant operator’s stock worth $667,000 after purchasing an additional 93,040 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Red Robin Gourmet Burgers in the 3rd quarter worth approximately $1,082,000. Finally, Quantbot Technologies LP purchased a new stake in Red Robin Gourmet Burgers in the 3rd quarter worth approximately $34,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jumana Capital Investments Llc acquired 800,454 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $5.19 per share, with a total value of $4,154,356.26. Following the purchase, the insider now directly owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This represents a 98.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 846,597 shares of company stock valued at $4,393,946. Company insiders own 3.19% of the company’s stock.

Red Robin Gourmet Burgers Stock Performance

RRGB stock opened at $5.36 on Friday. The stock has a market capitalization of $93.22 million, a P/E ratio of -1.63 and a beta of 2.64. Red Robin Gourmet Burgers, Inc. has a one year low of $2.97 and a one year high of $11.62. The company has a 50 day moving average price of $5.38 and a two-hundred day moving average price of $5.25.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.