AWM Investment Company Inc. trimmed its holdings in shares of GrowGeneration Corp. (NASDAQ:GRWG - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,681,729 shares of the company's stock after selling 247,272 shares during the period. AWM Investment Company Inc. owned about 2.84% of GrowGeneration worth $2,842,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of GrowGeneration in the fourth quarter valued at approximately $27,000. Oxford Asset Management LLP acquired a new position in shares of GrowGeneration during the 4th quarter valued at about $33,000. Intech Investment Management LLC purchased a new position in shares of GrowGeneration during the 4th quarter worth about $42,000. Two Sigma Securities LLC raised its stake in GrowGeneration by 158.6% during the fourth quarter. Two Sigma Securities LLC now owns 32,594 shares of the company's stock worth $55,000 after purchasing an additional 19,992 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of GrowGeneration in the 4th quarter valued at $62,000. 36.02% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, President Michael Salaman acquired 85,465 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of $1.21 per share, with a total value of $103,412.65. Following the completion of the acquisition, the president now directly owns 1,639,313 shares in the company, valued at $1,983,568.73. This represents a 5.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Darren Lampert acquired 82,639 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of $1.19 per share, for a total transaction of $98,340.41. Following the purchase, the chief executive officer now directly owns 1,728,522 shares of the company's stock, valued at $2,056,941.18. This represents a 5.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 7.62% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Lake Street Capital dropped their price objective on GrowGeneration from $4.00 to $2.50 and set a "buy" rating for the company in a report on Friday, May 9th.
Read Our Latest Report on GrowGeneration
GrowGeneration Stock Performance
GRWG opened at $1.14 on Wednesday. GrowGeneration Corp. has a 1 year low of $0.82 and a 1 year high of $2.73. The firm has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.40. The company has a market cap of $67.83 million, a PE ratio of -1.31 and a beta of 3.57.
GrowGeneration (NASDAQ:GRWG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.02). GrowGeneration had a negative net margin of 26.62% and a negative return on equity of 23.73%. The company had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.63 million. On average, sell-side analysts predict that GrowGeneration Corp. will post -0.58 earnings per share for the current year.
About GrowGeneration
(
Free Report)
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.
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