What’s Red Robin Gourmet Burgers, Inc. Upside After Today’s Bullish Options Activity?

 What's Red Robin Gourmet Burgers, Inc. Upside After Today's Bullish Options Activity?

In today’s session Red Robin Gourmet Burgers, Inc. (RRGB) registered an unusually high (274) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious RRGB increase. With 274 contracts traded and 14124 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: RRGB161118C00050000 closed last at: $3.6 or 9.1% up. About 48,866 shares traded hands. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has declined 15.38% since April 13, 2016 and is downtrending. It has underperformed by 19.31% the S&P500.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Ratings Coverage

Out of 6 analysts covering Red Robin Gourmet Burgers (NASDAQ:RRGB), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Red Robin Gourmet Burgers has been the topic of 18 analyst reports since August 27, 2015 according to StockzIntelligence Inc. As per Friday, October 21, the company rating was maintained by Stephens. The company was upgraded on Monday, August 31 by Zacks. Maxim Group maintained Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) rating on Friday, February 12. Maxim Group has “Buy” rating and $94 price target. The rating was maintained by Jefferies with “Buy” on Saturday, September 5. The stock has “Underperform” rating given by Bank of America on Tuesday, September 13. The stock has “Buy” rating given by Maxim Group on Thursday, January 7. Jefferies maintained the shares of RRGB in a report on Tuesday, February 16 with “Buy” rating. The firm has “Buy” rating by Zacks given on Thursday, August 27. The stock has “Hold” rating given by Jefferies on Tuesday, July 26. Maxim Group initiated it with “Buy” rating and $103 target price in Friday, September 11 report.

According to Zacks Investment Research, “Red Robin Gourmet is a casual dining restaurant chain focused on serving an imaginative selection of high quality gourmet burgers in a family-friendly atmosphere. They currently own and operate in 12 states, and have additional restaurants operating under franchise or license agreements in 18 states and Canada. Their menu is centered around their signature product, the gourmet burger, which they make from beef, chicken, veggie, fish, turkey and pot roast and serve in a variety of recipes. (Prospectus)”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.03, from 1.12 in 2016Q1. The ratio dropped, as 31 funds sold all Red Robin Gourmet Burgers, Inc. shares owned while 49 reduced positions. 25 funds bought stakes while 62 increased positions. They now own 13.70 million shares or 6.81% less from 14.70 million shares in 2016Q1.
Alliancebernstein Ltd Partnership holds 0.01% or 366,330 shares in its portfolio. Landscape Capital Management Ltd Co accumulated 0.05% or 7,892 shares. Boothbay Fund Ltd Limited Liability Company has invested 0.28% of its portfolio in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB). Td Asset Mgmt last reported 10,600 shares in the company. Blackrock last reported 3,705 shares in the company. Moreover, Ameriprise Inc has 0.01% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 440,897 shares. Moreover, Advisors Asset Management has 0.01% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 8,186 shares. Price T Rowe Inc Md last reported 0.01% of its portfolio in the stock. Goldman Sachs Grp has 0% invested in the company for 21,566 shares. First Midwest National Bank & Trust Trust Division holds 6,512 shares or 0.04% of its portfolio. Millennium Mgmt Limited Com last reported 57,566 shares in the company. Teachers Retirement System Of The State Of Kentucky has 5,100 shares for 0% of their US portfolio. American Gp holds 10,167 shares or 0% of its portfolio. Citigroup accumulated 0% or 10,015 shares. Stevens Capital Ltd Partnership holds 0.02% of its portfolio in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 10,522 shares.

Insider Transactions: Since May 19, 2016, the stock had 4 insider buys, and 1 sale for $135,959 net activity. Kaufman Glenn B. bought 2,000 shares worth $95,700. The insider Brown Stuart B sold $310,700. STUTZ CARIN bought $50,110 worth of stock or 960 shares. Shares for $50,438 were bought by Carley Stephen E..

Red Robin Gourmet Burgers, Inc., together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The company has a market cap of $696.33 million. The Firm is primarily engaged in the sale of food and beverages at the Company-owned restaurants. It has a 22.85 P/E ratio. The Company’s menu features a line of gourmet burgers, 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.

RRGB Company Profile

Red Robin Gourmet Burgers, Inc., incorporated on January 17, 2001, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Firm is primarily engaged in the sale of food and beverages at the Company-owned restaurants. 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. It also offers burgers made from chicken breasts, fish fillets, turkey patties, as well as vegetarian and vegan options. It offers a selection of buns, including ciabatta, gluten free, sesame, onion, whole grain, jalapeno and lettuce wraps a range of toppings, including fresh guacamole, housemade barbeque sauces, aiolis, grilled pineapple, crispy onion straws, sauteed mushrooms, fried jalapenos, bruschetta salsa, coleslaw, over eight different cheese choices and a fried egg.

More notable recent Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) news were published by: Prnewswire.com which released: “Red Robin Gourmet Burgers and Brews Adds Award-Winning Billion Dollar Baby …” on November 07, 2016, also Fool.com with their article: “Why Red Robin Gourmet Burgers, Inc. Fell 11% in September” published on October 09, 2016, Prnewswire.com published: “Red Robin Gourmet Burgers and Brews Commits to Reducing Carbon Footprint in …” on September 07, 2016. More interesting news about Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) were released by: Prnewswire.com and their article: “Red Robin Gourmet Burgers and Brews Hosts Annual Tip-A-Cop® Fundraiser to …” published on October 17, 2016 as well as Prnewswire.com‘s news article titled: “Red Robin Gourmet Burgers and Brews Releases First-Ever Burger-Inspired Beer …” with publication date: September 26, 2016.

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