GSA Capital Partners LLP Invests $2.01 Million in Grocery Outlet Holding Corp. $GO

Key Points

• GSA Capital Partners initiated a $2.01 million position in Grocery Outlet, buying 201,159 shares, while institutional investors collectively own 99.87% of the company.
• Grocery Outlet reported quarterly adjusted earnings of $0.20 per share, exceeding estimates of $0.13, and revenue of $1.19 billion, up 1.1% year over year.
• Shares recently traded at $11.13 after rising 3.1%, but analyst sentiment remains cautious: the consensus rating is “Reduce,” with an average price target of $10.59.

GSA Capital Partners LLP purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 201,159 shares of the company's stock, valued at approximately $2,008,000. GSA Capital Partners LLP owned 0.20% of Grocery Outlet at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Grocery Outlet by 5.8% in the 1st quarter. Royal Bank of Canada now owns 122,565 shares of the company's stock worth $1,713,000 after acquiring an additional 6,736 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Grocery Outlet by 14.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 357,856 shares of the company's stock valued at $5,003,000 after acquiring an additional 44,214 shares in the last quarter. Creative Planning boosted its holdings in shares of Grocery Outlet by 25.4% in the second quarter. Creative Planning now owns 16,104 shares of the company's stock valued at $200,000 after purchasing an additional 3,263 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Grocery Outlet by 13.8% in the second quarter. JPMorgan Chase & Co. now owns 220,432 shares of the company's stock valued at $2,738,000 after purchasing an additional 26,725 shares during the period. Finally, Franklin Resources Inc. bought a new position in Grocery Outlet in the second quarter worth approximately $149,000. Institutional investors own 99.87% of the company's stock.

Grocery Outlet Stock Up 3.1%

Shares of NASDAQ GO opened at $11.13 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $5.66 and a 12-month high of $19.23. The stock's fifty day simple moving average is $9.69 and its two-hundred day simple moving average is $8.65. The stock has a market capitalization of $1.10 billion, a PE ratio of -2.88, a price-to-earnings-growth ratio of 17.35 and a beta of 0.65. The company has a current ratio of 1.29, a quick ratio of 0.27 and a debt-to-equity ratio of 0.60.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.13 by $0.07. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. As a group, analysts expect that Grocery Outlet Holding Corp. will post 0.37 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In related news, insider Paul Blaine Miller bought 10,000 shares of the business's stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $9.37 per share, for a total transaction of $93,700.00. Following the completion of the purchase, the insider directly owned 59,171 shares of the company's stock, valued at approximately $554,432.27. This trade represents a 20.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GO. Wells Fargo & Company raised their price objective on Grocery Outlet from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday. Morgan Stanley upped their target price on Grocery Outlet from $7.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday. DA Davidson raised their price target on Grocery Outlet from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $9.00 price target on shares of Grocery Outlet in a research note on Thursday. Finally, Telsey Advisory Group restated a "market perform" rating on shares of Grocery Outlet in a report on Thursday. Twelve research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $10.59.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. NASDAQ: GO is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company's unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.

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