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Gerard Johan Hart, the President and CEO of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB), recently sold a portion of his holdings in the company. According to the latest SEC filings, Hart disposed of 23,464 shares across two transactions. The sale comes at a time when InvestingPro data shows the company trading at $4.26, down over 30% from a year ago, with a market capitalization of just $74.4 million.
On March 14, Hart sold 11,997 shares at a weighted average price of $4.46 per share, with the transaction price ranging from $4.41 to $4.51. Subsequently, on March 17, he sold an additional 11,467 shares at a weighted average price of $4.39, with prices ranging from $4.35 to $4.52. The total value of these transactions amounted to $103,846. The stock has shown significant volatility, trading between $2.97 and $9.20 over the past 52 weeks, with InvestingPro analysis indicating concerning financial health metrics.
These sales were conducted as automatic "sell-to-cover" transactions to cover tax withholding obligations and fees related to the vesting of restricted stock units. Following these transactions, Hart retains ownership of 575,270 shares, which includes 324,696 time-based restricted stock units subject to vesting and forfeiture restrictions. For deeper insights into insider transactions and comprehensive financial analysis, including 10+ additional ProTips about Red Robin’s financial health, visit InvestingPro.
In other recent news, Red Robin Gourmet Burgers Inc. reported its fourth-quarter 2024 earnings, revealing a notable shortfall in earnings per share (EPS) compared to projections. The company posted an EPS of -0.94, significantly below the anticipated -0.29. Revenue for the quarter also fell short, reaching $258.2 million against the forecasted $285.62 million. Despite these misses, Red Robin’s stock saw a rise in aftermarket trading, indicating some investor optimism about the company’s future strategies. The company plans to close 10-15 underperforming restaurants in 2025 as part of its strategic realignment. Additionally, Red Robin introduced new menu items and operational updates, aiming for future growth and improved customer engagement. Analysts have noted the company’s efforts to manage costs, with an adjusted EBITDA of $12.7 million, up $2 million from the previous year, suggesting improved cost management. Looking forward, Red Robin has set a revenue guidance for 2025 between $1.225 billion and $1.250 billion, with expectations for modestly positive same-store sales growth.
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