1,199,225 Shares in GrowGeneration Corp. $GRWG Acquired by Monaco Asset Management SAM

Key Points

• Monaco Asset Management SAM acquired 1,199,225 shares of GrowGeneration, valued at approximately $1.775 million and representing about 2% of the company. Institutional investors and hedge funds collectively own 36.02% of the stock.
• Analyst opinions remain mixed: Alliance Global Partners upgraded the stock to “Buy” with a $2.50 price target, while Weiss Ratings downgraded it to “Sell.” The consensus rating is “Hold,” with a $2.50 target.
• GrowGeneration reported quarterly revenue of $43.22 million and an EPS loss of $0.03, beating estimates. Despite the revenue performance, the company posted a negative net margin and analysts expect a full-year loss of $0.19 per share.

Monaco Asset Management SAM purchased a new stake in GrowGeneration Corp. (NASDAQ:GRWG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,199,225 shares of the company's stock, valued at approximately $1,775,000. GrowGeneration accounts for about 0.1% of Monaco Asset Management SAM's holdings, making the stock its 23rd largest holding. Monaco Asset Management SAM owned approximately 2.00% of GrowGeneration at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE grew its stake in GrowGeneration by 36.7% during the fourth quarter. Bank of America Corp DE now owns 60,104 shares of the company's stock worth $102,000 after buying an additional 16,132 shares during the period. AQR Capital Management LLC purchased a new position in shares of GrowGeneration in the 1st quarter valued at $27,000. XTX Topco Ltd purchased a new position in shares of GrowGeneration in the 2nd quarter valued at $55,000. Jane Street Group LLC lifted its holdings in shares of GrowGeneration by 1,193.2% during the 2nd quarter. Jane Street Group LLC now owns 792,229 shares of the company's stock valued at $741,000 after acquiring an additional 730,968 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of GrowGeneration during the 2nd quarter valued at $26,000. 36.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings downgraded GrowGeneration from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 7th. Alliance Global Partners upgraded GrowGeneration from a "neutral" rating to a "buy" rating and set a $2.50 price objective on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.50.

GrowGeneration Price Performance

NASDAQ GRWG opened at $1.77 on Monday. GrowGeneration Corp. has a fifty-two week low of $1.00 and a fifty-two week high of $2.40. The business has a 50 day moving average price of $1.49 and a two-hundred day moving average price of $1.35. The stock has a market cap of $104.29 million, a PE ratio of -6.56 and a beta of 2.51.

GrowGeneration (NASDAQ:GRWG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. GrowGeneration had a negative net margin of 10.07% and a negative return on equity of 17.44%. The company had revenue of $43.22 million for the quarter, compared to analyst estimates of $42.75 million. Sell-side analysts anticipate that GrowGeneration Corp. will post -0.19 EPS for the current fiscal year.

GrowGeneration Profile

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.

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