GAMMA Investing LLC lifted its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 4,597.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,528 shares of the company's stock after acquiring an additional 70,984 shares during the quarter. GAMMA Investing LLC owned 0.07% of Grocery Outlet worth $10,140,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. 111 Capital purchased a new stake in Grocery Outlet during the fourth quarter worth $207,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Grocery Outlet by 8.1% during 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 valued at $4,896,000 after acquiring an additional 23,606 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Grocery Outlet by 28.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company's stock valued at $19,346,000 after purchasing an additional 277,489 shares in the last quarter. Twinbeech Capital LP acquired a new position in Grocery Outlet in the 4th quarter worth about $4,040,000. Finally, Two Sigma Advisers LP acquired a new position in Grocery Outlet in the 4th quarter worth about $1,033,000. Hedge funds and other institutional investors own 99.87% of the company's stock.
Grocery Outlet Price Performance
Shares of Grocery Outlet stock traded down $0.20 during trading on Monday, reaching $13.49. The company's stock had a trading volume of 3,024,665 shares, compared to its average volume of 2,506,297. The business has a 50 day moving average price of $14.51 and a 200-day moving average price of $15.41. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $22.55. The company has a market capitalization of $1.32 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.
Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.
Insider Buying and Selling
In other Grocery Outlet news, Director Erik D. Ragatz purchased 19,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $14.46 per share, with a total value of $274,740.00. Following the completion of the acquisition, the director now owns 19,000 shares of the company's stock, valued at approximately $274,740. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GO. Wells Fargo & Company increased their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, April 30th. Finally, Bank of America lowered their price objective on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.62.
Read Our Latest Stock Report on GO
About Grocery Outlet
(
Free Report)
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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