BlackRock Discloses Passive Stake in Red Robin Gourmet Burgers
Ticker: RRGB · Form: SC 13G · Filed: Jan 26, 2024 · CIK: 1171759
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock just confirmed a big, passive stake in Red Robin.**
AI Summary
BlackRock Inc., a major investment firm, filed an SC 13G on January 26, 2024, disclosing its ownership of Red Robin Gourmet Burgers Inc. common stock as of December 31, 2023. This filing indicates that BlackRock holds a significant, but passive, stake in Red Robin, meaning they are not trying to influence management. For investors, this shows a large institutional investor has confidence in Red Robin, which could be a positive signal.
Why It Matters
This filing reveals that a major institutional investor, BlackRock, holds a significant position in Red Robin, which can be seen as a vote of confidence in the company's future.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by signaling stability and institutional interest.
Analyst Insight
An investor might view BlackRock's passive stake as a positive signal, suggesting institutional confidence in Red Robin, but should still conduct their own due diligence on Red Robin's financials and business outlook.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- RED ROBIN GOURMET BURGERS INC (company) — the subject company whose stock is being reported
- December 31, 2023 (date) — the date of the event which required the filing
- January 26, 2024 (date) — the filing date of the SC 13G
FAQ
What type of filing is this document?
This document is an SC 13G filing, as stated in the 'FORM TYPE: SC 13G' section and the 'SCHEDULE 13G' title.
Who is the reporting person in this SC 13G filing?
The reporting person is BlackRock Inc., as indicated under the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section and 'Names of reporting persons. BlackRock, Inc.'.
What is the subject company whose securities are being reported?
The subject company is RED ROBIN GOURMET BURGERS INC, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RED ROBIN GOURMET BURGERS INC' and 'Name of Issuer) RED ROBIN GOURMET BURGERS INC'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 26, 2024 regarding RED ROBIN GOURMET BURGERS INC (RRGB).