Algert Global LLC Purchases New Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Algert Global LLC purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,520 shares of the company's stock, valued at approximately $414,000.

Several other hedge funds have also recently bought and sold shares of the business. Amundi increased its stake in Grocery Outlet by 0.6% during the 4th quarter. Amundi now owns 116,139 shares of the company's stock worth $1,895,000 after buying an additional 719 shares during the period. Cedar Wealth Management LLC increased its stake in Grocery Outlet by 3.9% during the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company's stock worth $318,000 after buying an additional 765 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company's stock worth $732,000 after buying an additional 1,240 shares during the period. Integrated Wealth Concepts LLC increased its stake in Grocery Outlet by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock worth $245,000 after buying an additional 1,377 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Grocery Outlet by 9.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock worth $265,000 after buying an additional 1,408 shares during the period. Hedge funds and other institutional investors own 99.87% of the company's stock.

Insider Activity at Grocery Outlet

In related news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the sale, the senior vice president now directly owns 41,448 shares in the company, valued at $470,020.32. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher M. Miller purchased 10,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $116,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GO. Morgan Stanley dropped their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Bank of America decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reissued a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. The Goldman Sachs Group decreased their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.62.

Grocery Outlet Trading Down 3.9%

NASDAQ GO opened at $14.40 on Monday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $23.25. The company has a 50-day simple moving average of $14.11 and a 200-day simple moving average of $15.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market capitalization of $1.41 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Grocery Outlet Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.

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