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ENGLEWOOD, CO— Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) Chief Financial Officer Joshua Todd Wilson has recently sold shares of the company’s stock, according to a Form 4 filing with the Securities and Exchange Commission. On March 21, Wilson sold 1,125 shares at a weighted average price of $4.16 per share, followed by an additional sale of 932 shares at the same average price on March 24. These transactions brought the total value of the shares sold to approximately $8,557. The sales come as the stock has declined nearly 38% over the past year, according to InvestingPro data.
These sales were conducted as automatic "sell-to-cover" transactions to meet tax withholding obligations and fees associated with the vesting of restricted stock units. Following these sales, Wilson retains ownership of 107,214 shares of Red Robin common stock.
In addition to the sales, Wilson was granted 94,288 restricted stock units under the company’s 2024 Performance Incentive Plan, which are subject to vesting over three years.
Red Robin Gourmet Burgers Inc. is a prominent player in the casual dining sector, known for its gourmet burgers and family-friendly dining experience.
In other recent news, Red Robin Gourmet Burgers Inc. disclosed its fourth-quarter 2024 earnings, which showed a notable miss on earnings per share (EPS), posting -0.94 against an expected -0.29. Revenue for the quarter also fell short, coming in at $258.2 million compared to the forecasted $285.62 million. Despite these setbacks, the company reported a 3.4% increase in comparable restaurant revenue and an improvement in adjusted EBITDA to $12.7 million, up $2 million from the previous year. Red Robin is planning to close 10-15 underperforming restaurants in 2025 as part of its strategy to optimize operations. The company has introduced new menu items and operational updates aimed at future growth. 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. The company also anticipates a restaurant-level operating profit of 12-13% and an adjusted EBITDA of $60-$65 million.
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