GAMMA Investing LLC Buys 70,984 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

GAMMA Investing LLC grew its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 4,597.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,528 shares of the company's stock after buying an additional 70,984 shares during the period. GAMMA Investing LLC owned approximately 0.07% of Grocery Outlet worth $10,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 111 Capital acquired a new position in Grocery Outlet in the 4th quarter worth $207,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Grocery Outlet by 8.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,642 shares of the company's stock worth $4,896,000 after purchasing an additional 23,606 shares during the period. Voloridge Investment Management LLC boosted its stake in Grocery Outlet by 28.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company's stock worth $19,346,000 after purchasing an additional 277,489 shares during the period. Twinbeech Capital LP acquired a new position in Grocery Outlet in the 4th quarter worth $4,040,000. Finally, Two Sigma Advisers LP acquired a new position in Grocery Outlet in the 4th quarter worth $1,033,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th. Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, UBS Group upped their target price on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.62.

Grocery Outlet Stock Performance

NASDAQ:GO traded down $0.33 during mid-day trading on Wednesday, hitting $13.30. The stock had a trading volume of 2,201,401 shares, compared to its average volume of 2,519,659. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $22.55. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 9.08 and a beta of 0.32. The company's 50 day simple moving average is $14.49 and its 200 day simple moving average is $15.34. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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

Insider Activity at Grocery Outlet

In related news, Director Erik D. Ragatz purchased 19,000 shares of the stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $14.46 per share, with a total value of $274,740.00. Following the acquisition, the director now directly owns 19,000 shares in the company, valued at $274,740. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.50% of the stock is currently owned by company insiders.

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.