|Bid||34.30 x 800|
|Ask||34.94 x 3000|
|Day's Range||33.36 - 35.88|
|52 Week Range||24.57 - 51.28|
|Beta (3Y Monthly)||1.66|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 19, 2019 - Aug 23, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||32.33|
Red Robin news for Friday concerning a buyout offer has RRGB stock heading higher.Source: Shutterstock Red Robin (NASDAQ:RRGB) has received an unsolicited offer from investor Vintage Capital that would having it buying up the rest of the company's stock for $40 per share in cash. This represents a roughly 31% premium over the stock's closing price on Thursday. It's also a 57% premium over the stock's unaffected price from June 12, 2019.This is far from the first time that Vintage Capital has made such an offer for Red Robin. It did the same thing early in June. However, at that time the investor was taking a much more hostile stance in its negotiations.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat previous Red Robin news still included the offer of $40 per share for RRGB stock. However, it was also critical of the company's Board of Directors. This includes chastising them for adopting a poison pill strategy. The investor also wasn't happy with the slow search for a replacement CEO. * 10 Tech Stocks That Are Still Worth Your Time (And Money) Vintage Capital sounds much less threatening in its most recent letter to Red Robin."We are pleased we have begun a constructive dialogue. We hope that this dialogue continues, as we are confident that our Proposal is in the best interest of the Company's stockholders."Despite this, the company says it is still willing to call a meeting of shareholders in an effort to oust the Red Robin Board of Directors if the group doesn't engage with it in this matter.RRGB stock was up 9% as of noon Friday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now As of this writing, William White did not hold a position in any of the aforementioned securities.The post Red Robin News: RRGB Stock Sizzles on Buyout Buzz appeared first on InvestorPlace.
Red Robin Gourmet Burgers Inc. stock jumped 13% in Friday trading after the restaurant chain confirmed that it has received an unsolicited conditional proposal from Vintage Capital Management to acquire all outstanding common shares at $40 apiece in cash. Red Robin said in a statement that it will carefully review the proposal. Vintage Capital already owned 1.5 million Red Robin shares, or 11.6%. Vintage Capital previously urged Red Robin to consider strategic alternatives, including a sale, and said it was prepared to make this offer. Red Robin stock is down 31% over the past year while the S&P 500 index is up 7% for the period.
Vintage Capital Management has sent a proposal to acquire Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB ) outstanding common shares for $40.00 per share in cash. The Red Robin board is reviewing and considering ...
Red Robin Gourmet Burgers' third-largest shareholder officially offered to buy the company for nearly $519 million on Thursday, following up on a move it warned it would make last month if the Greenwood Village-headquartered restaurant chain did not undertake a review of all strategic options, including the potential sale of the company. Vintage Capital Management LLC of Orlando, which owns 11.6% of the full-service chain's common stock, formally presented the request in a letter to board chairwoman and interim CEO Pattye Moore. As previously indicated, it offered to pay $40 per share of outstanding stock — a 32.3% premium over the $30.24 at which Red Robin (Nasdaq: RRGB) shares were trading at the end of the day Wednesday, but not as big a jump as when it made its initial unofficial offer on June 12 and the share price was $25.46.
By John Jannarone Vintage Capital’s Brian Kahn just put his money where his mouth is – 1980s style. The activist investor, which built an 11.6% stake in Red Robin Gourmet Burgers (ticker: RRGB) and had previously said it was willing to make a $40 a share offer, has made a “non-binding proposal” to acquire the […]
Shares of Red Robin Gourmet Burgers jumped 17% in extended trading Thursday after it confirmed it has received an unsolicited proposal from private-equity firm Vintage Capital Management LLC to acquire all of the outstanding common shares of Red Robin for $40 per share in cash. Last month, Red Robin turned down a request for a special meeting with stockholders initiated by Vintage, which already owns a piece of the restaurant chain.
Red Robin Gourmet Burgers, Inc. (RRGB) (“Red Robin” or the “Company”) today confirmed it has received an unsolicited conditional proposal from Vintage Capital Management, LLC (“Vintage”) to acquire all of the outstanding common shares of Red Robin for $40.00 per share in cash. Red Robin’s Board of Directors and management team are committed to acting in the best interests of the Company and all shareholders. Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, the Red Robin Board will carefully review and consider the proposal to determine the course of action it believes is in the best interests of the Company’s shareholders.
The restaurant chain is in a public fight with its third-largest shareholder over how to turn around its struggling in-store sales.
Loew, who grew up in Chicago, and Genna, of New York, are bringing the "powerhouse" styles of pizza to Seattle, Genna said. The restaurant will pay homage to the heritage of those styles and nod to Red Robin with its brick esthetic and mural.
Red Robin (RRGB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Martyn Chapman Named Executive Director of Nasdaq Center for Corporate Governance By John Jannarone Nasdaq Inc. has launched the Nasdaq Center for Corporate Governance, an information and research platform dedicated to supporting boards, senior executives, and governance professionals at public, private, and nonprofit organizations. Nasdaq, which works with 4,000 companies listed on its global exchanges […]
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Vintage Capital Management claims board members have not responded to its request to explore a sale of the struggling restaurant chain.
By John Jannarone Red Robin Gourmet Burgers Inc.'s third-largest shareholder, Vintage Capital Management, has called a special meeting to oust five of seven directors at the casual dining chain, setting the stage for a fight for control of a business that has underperformed rivals for years. "Given the Board’s unwillingness to pursue a transparent and […]
Red Robin Turned Down Meeting with Large Shareholder and Launched Expensive Defense Campaign By John Jannarone Anyone who looks at a long-term stock chart can conclude that positive change is needed at Red Robin Gourmet Burgers. But rather than make meaningful improvements, the casual dining chain’s latest move was to serve shareholders a costly surprise. […]
Activist investor Vintage Capital Management sent a letter to Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB ) urging the board to review strategic alternatives — including a sale to the activist investor. ...
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. ArQule, Inc. (NASDAQ: ARQL ) shares were up ...
Shares of Red Robin Gourmet Burgers Inc. rocketed 31.1% in afternoon trading, putting them on course for the biggest one-day gain since the burger chain went public in July 2002, after an activist investor said it was prepared to launch a buyout bid. Earlier, Vintage Capital Management LLC, Red Robin's third-largest shareholder, urged the company to pursue strategic alternatives, including a potential sale, and was prepared to bid $40 a share in an auction for the company's shares. Vintage said it has explained to the Red Robin's board "on a number of occasions" that it hoped to collaborate on recruiting an "A+" operator to fill the chief executive role. Red Robin responded to Vintage by saying it was "surprised by the content of the letter" since Red Robin had expressed its openness to Vintage's participation in its search for a CEO, but Vintage has so far not been willing to propose any candidates. The company added that it remained open to all opportunities to create value, and would "of course consider any bona fide offer" made by Vintage to buy the company. Red Robin's stock was still down 37% over the past 12 months while the Dow Jones Industrial Average has gained 3.4%.
Red Robin welcomes open dialogue with its shareholders and appreciates input towards the goal of enhancing shareholder value. In multiple conversations with Vintage, we have expressed our openness to Vintage’s participation in our ongoing search to identify a world-class CEO, and to maintaining a constructive dialogue. Given our dialogue to date, we were surprised by the content of the letter we received today, as Vintage has not been willing to propose any CEO candidates.
White Castle and Red Robbin are experiencing a shortage of Impossible Burger to keep up with the demand. Impossible Burger told Yahoo Finance "we are struggling to keep up with scorching demand for the Impossible Burger. The issue is not unique to any single region or chain..." Yahoo Finance's Brian Sozzi and Alexis Christoforous discuss that and Dunkin' plans to partner with plant-based Food maker.