|Bid||0.00 x 800|
|Ask||0.00 x 1000|
|Day's Range||30.90 - 32.38|
|52 Week Range||24.57 - 51.28|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 19, 2019 - Aug 23, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||30.22|
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.
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 ...
Calls to a dozen Red Robins and the same number of White Castles on Thursday found that only two locations of each chain had Impossible Foods Inc.’s patties available. White Castle said on Friday the patties would be back no later than June 17.
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.
The investor threatens a proxy fight to oust board members if leaders refuse to look into possible sale of Greenwood Village-based restaurant chain.
were soaring Thursday after the company said in a Securities and Exchange Commission filing that institutional shareholder Vintage Capital wants to purchase the company outright. Vintage Capital, which holds 1.5 million shares, sent a letter to the company's board offering a bid of $40 a share to acquire 100% of the company in an all-cash transaction. "Our sincere hope, as explained to members of the Board on a number of occasions, was to work collaboratively to recruit an "A+" operator to accept the CEO role and lead Red Robin back to greatness.
An activist investor firm and major shareholder is pushing for big changes to the burger chain's business plan and boardroom composition.
Red Robin news about a possible buyout of the burger chain has RRGB stock up on Thursday.Source: Shutterstock Red Robin (NASDAQ:RRGB) investor Vintage Capital Management sent a letter to the company's Board of Directors on Thursday. In that letter, the investor says that it would be willing to acquire all outstanding shares of RRGB stock.Vintage Capital Management says that it would be willing to pay $40 per share for RRGB stock. This would represent a premium of roughly 57% over the stock's closing price on Wednesday.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe Red Robin news also has Vintage Capital Management putting the company's Board of Directors to task over recent actions. This includes speaking out against it initiating a poison pill strategy earlier this month and delays to the ongoing CEO search.Vintage Capital Management is calling for the Board of Directors to conduct a strategic review of the company's options. If they don't, it says it will hold a special meeting of shareholders in an attempt to remove all current members from the Board. * 7 High-Quality Cheap Stocks to Buy With $10 Vintage Capital Management isn't a small investor in Red Robin either. The company currently holds 1.5 million shares of RRGB stock. This has its stake in the restaurant chain sitting at more than 11.5%. It also makes it the third-largest shareholder in the company.RRGB stock was up 27% as of Thursday morning, but is down 4% since the start of the year. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Red Robin News: RRGB Stock Heats Up on Sale Talk appeared first on InvestorPlace.
Shares of Red Robin Grourmet Burgers Inc. ran up 27% in active premarket trade Thursday, after the restaurant chain disclosed that its third-largest shareholder, Vintage Capital Management LLC, said it was prepared to make a buyout bid for the company. In a letter Red Robin's board of directors, Vintage, which owns 1.5 million shares, or 11.5%, of Red Robin's outstanding shares, said it was prepared to pay $40 a share in cash an auction to buy the rest of Red Robin shares that it didn't already own. That would represent a 57% premium to the stock's Wednesday closing price, and would value the company at about $519 million. Earlier this month, Red Robin adopted a shareholder rights plan, known as a poison pill, aimed at protecting the company from a hostile takeover. Vintage said it has sought communication with management to help drive an improvement in the strategic direction and to help recruit "an 'A+' operator" to accept the chief executive officer role, given that "it is clear that many such quality candidates are refusing to entertain the opportunity due to the lack of confidence in the board's leadership and Red Robin's disastrous operating and market performance." Red Robin's stock has tumbled 52% over the past 12 months, while the S&P 500 has gained 3.8%.
The company is in the midst of a search for a new CEO following more than a year of same-store sales declines.
Red Robin Gourmet Burgers Inc. said Wednesday its board has adopted a shareholder rights plan, a move aimed at protecting the company from an unwanted takeover bid. The fast-casual restaurant chain is currently searching for a chief executive and seeking to execute a strategic plan to position the company for long-term growth. On Tuesday, Vintage Capital said in a regulatory filing that it had built an 11.6% stake in the company. "The Board adopted the Rights Plan to deter any entity, person or group from gaining control of Red Robin through the open market or private transactions without paying an appropriate control premium or offering fair and adequate value to all shareholders," Red Robin said in a statement. The board will issue one preferred sock purchase right for each stock owned on June 14. Shares were not active premarket but have fallen 49% in the last 12 months, while the S&P 500 has gained 2%.
Red Robin Gourmet Burgers, Inc. (RRGB) (“Red Robin” or the “Company”), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced that its Board of Directors has unanimously adopted a short-term shareholder rights plan (“the Rights Plan”) following the Board’s evaluation and consultation with the Company’s advisors. The Rights Plan is similar to plans adopted by other publicly traded companies and is intended to enable all Red Robin shareholders to realize the value of their investment and protect Red Robin from any efforts to obtain control of the Company that are inconsistent with the best interests of its shareholders while Red Robin completes its ongoing CEO search and executes on its strategic plan to position the Company for significant, sustained shareholder value creation and long-term success.