GrowGeneration Corp. (NASDAQ:GRWG) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA has reduced its stake in GrowGeneration Corp. by 50.6%, now owning approximately 0.77% of the company, valued at $495,000.
• GrowGeneration's recent earnings report revealed a loss of ($0.16) EPS, missing analysts' expectations and reflecting a negative net margin of 28.33%.
• Analysts at Lake Street Capital have downgraded GrowGeneration’s target price from $4.00 to $2.50 while maintaining a "buy" rating on the stock.

Primecap Management Co. CA lessened its position in GrowGeneration Corp. (NASDAQ:GRWG - Free Report) by 50.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 458,300 shares of the company's stock after selling 468,800 shares during the period. Primecap Management Co. CA owned approximately 0.77% of GrowGeneration worth $495,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GRWG. American Century Companies Inc. increased its holdings in shares of GrowGeneration by 8.0% in the 4th quarter. American Century Companies Inc. now owns 108,910 shares of the company's stock valued at $184,000 after purchasing an additional 8,077 shares in the last quarter. Barclays PLC increased its holdings in GrowGeneration by 12.0% during the 4th quarter. Barclays PLC now owns 84,528 shares of the company's stock valued at $143,000 after acquiring an additional 9,076 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in GrowGeneration by 13.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 80,998 shares of the company's stock valued at $137,000 after acquiring an additional 9,613 shares in the last quarter. Bank of America Corp DE increased its holdings in GrowGeneration by 36.7% during the 4th quarter. Bank of America Corp DE now owns 60,104 shares of the company's stock valued at $102,000 after acquiring an additional 16,132 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in GrowGeneration by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,368,953 shares of the company's stock valued at $2,314,000 after acquiring an additional 17,254 shares in the last quarter. Institutional investors and hedge funds own 36.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital decreased their price target on shares of GrowGeneration from $4.00 to $2.50 and set a "buy" rating on the stock in a research note on Friday, May 9th.

GrowGeneration Trading Up 18.7%

Shares of GrowGeneration stock traded up $0.24 during mid-day trading on Tuesday, hitting $1.50. 3,016,439 shares of the stock were exchanged, compared to its average volume of 641,192. GrowGeneration Corp. has a twelve month low of $0.82 and a twelve month high of $2.33. The stock has a market capitalization of $88.95 million, a price-to-earnings ratio of -1.79 and a beta of 3.29. The company has a 50-day simple moving average of $1.07 and a 200 day simple moving average of $1.12.

GrowGeneration (NASDAQ:GRWG - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. GrowGeneration had a negative net margin of 28.33% and a negative return on equity of 32.51%. The business had revenue of $40.96 million for the quarter, compared to analysts' expectations of $40.96 million. Equities research analysts forecast that GrowGeneration Corp. will post -0.58 earnings per share for the current fiscal year.

GrowGeneration Company Profile

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.