Archon Capital Management LLC, 10% Owner at Red Robin Gourmet Burgers (NASDAQ:RRGB), reported a large insider buy on October 5, according to a new SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Thursday showed that LLC purchased 56,000 shares of Red Robin Gourmet Burgers. The total transaction amounted to $416,920.
Red Robin Gourmet Burgers shares are trading up 1.77% at $8.04 at the time of this writing on Friday morning.
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The Importance of Insider Transactions
Insider transactions shouldn't be used primarily to make ...