In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reported that Price T Rowe Associates Inc has picked up 2,075,400 of common stock as of 2016-12-12.
The acquisition brings the aggregate amount owned by Price T Rowe Associates Inc to a total of 2,075,400 representing a 16.1% 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 casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants. Its 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.
A glance at Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB)’s key stats reveals a current market capitalization of $705.38 million based on 13.07 million shares outstanding and a price at last close of $53.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-09-15, Stutz picked up 1,077 at a purchase price of $46.40. This brings their total holding to 3,015 as of the date of the filing.
On the sell side, the most recent transaction saw Howell unload 3000 shares at a sale price of $55.33. This brings their total holding to 23,068.
The company is also undertaking a spate of fresh openings as we speak, so we’re going to watch them closely to see if (and how) they play on bottom line when first quarter 2017 financials hit.
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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