In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reported that Integrated Core Strategies (us) Llc. has picked up 535,489 of common stock as of 2017-03-22.
The acquisition brings the aggregate amount owned by Integrated Core Strategies (us) Llc. to a total of 535,489 representing a 4.2% stake in the company.
For those not familiar with the company, 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. The Company also offers burgers made from chicken breasts, fish fillets, turkey patties, as well as vegetarian and vegan options. The Company offered a selection of buns, including ciabatta, gluten free, sesame, onion, whole grain, jalapeno and lettuce wraps a range of toppings, including fresh guacamole, house made barbeque sauces, aiolis, grilled pineapple, crispy onion straws, sauteed mushrooms, fried jalapenos, bruschetta salsa, coleslaw, eight different cheese choices and a fried egg, as of December 25, 2016.
A glance at Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB)’s key stats reveals a current market capitalization of 681.76 Million based on 12.86 Million shares outstanding and a price at last close of $53.70 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-02, Connors picked up 1,100 at a purchase price of $47.90. This brings their total holding to 4,115 as of the date of the filing.
On the sell side, the most recent transaction saw Howell unload 3,000 shares at a sale price of $55.33. This brings their total holding to 23,068.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) as things move forward to see if its progress aligns with these transactions.
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