Algert Global LLC Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC grew its stake in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock worth $5,271,000 after acquiring an additional 277,706 shares during the period. Sterling Capital Management LLC increased its stake in shares of Grocery Outlet by 53.9% during the fourth quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock valued at $91,000 after buying an additional 2,034 shares during the period. Choreo LLC bought a new stake in Grocery Outlet in the fourth quarter worth $245,000. New York State Common Retirement Fund raised its stake in shares of Grocery Outlet by 124.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,350 shares of the company's stock worth $1,379,000 after purchasing an additional 49,035 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Grocery Outlet during the fourth quarter valued at $1,079,000. 99.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GO shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. Bank of America cut their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Finally, UBS Group upped their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.62.

Insider Buying and Selling

In related news, Director Erik D. Ragatz acquired 19,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at $274,740. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lindsay E. Gray sold 2,741 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction 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. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 219,000 shares of company stock worth $2,709,790 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Price Performance

NASDAQ GO traded up $0.19 on Friday, reaching $14.16. The company's stock had a trading volume of 536,756 shares, compared to its average volume of 2,395,886. The firm has a market cap of $1.39 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. The business has a 50-day moving average price of $14.22 and a 200 day moving average price of $15.79. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $23.25. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. Grocery Outlet's revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. Sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

About Grocery Outlet

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.