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ENGLEWOOD, CO—Arnell Brenden Robyn, the Chief Accounting Officer of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB), recently executed two transactions involving the sale of company stock. The transactions come as the restaurant chain’s shares have declined over 22% year-to-date, with the company’s market capitalization now standing at approximately $74 million. These sales were disclosed in a recent SEC filing.
On March 14, Robyn sold 547 shares at a weighted average price of $4.46 each. A few days later, on March 17, an additional 523 shares were sold at a weighted average price of $4.39 each. The total value of these transactions amounted to $4,735. According to InvestingPro, the stock has shown significant volatility, trading between $2.97 and $9.20 over the past 52 weeks.
These transactions were conducted as automatic "sell-to-cover" actions to address tax withholding obligations and fees linked to the vesting of restricted stock units, as noted in the filing. Following these sales, Robyn continues to hold 8,699 shares of Red Robin stock. InvestingPro analysis indicates the company faces significant financial challenges, with a weak financial health score and rapid cash burn rate. Subscribers can access 10 additional key insights about RRGB through the comprehensive Pro Research Report.
In other recent news, Red Robin Gourmet Burgers Inc. reported a challenging fourth-quarter 2024 with earnings per share (EPS) of -0.94, significantly missing the forecasted -0.29. The company also reported revenue of $258.2 million, falling short of the expected $285.62 million. Despite these setbacks, Red Robin’s stock saw a substantial rise of 11.73% in aftermarket trading, indicating investor optimism about the company’s future plans. The company announced plans to close 10-15 underperforming restaurants in 2025 as part of its strategic efforts to enhance profitability. Red Robin also introduced new menu items and operational updates aimed at driving future growth. Analysts from firms such as Jefferies and Craig Hallum expressed interest in the company’s pricing strategy and loyalty program, highlighting the importance of these factors in customer engagement and cost management. Looking ahead, 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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