Hussman Strategic Advisors Inc. Invests $881,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Hussman Strategic Advisors Inc. bought a new position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,000 shares of the company's stock, valued at approximately $881,000. Hussman Strategic Advisors Inc. owned approximately 0.06% of Grocery Outlet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GO. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet in the 4th quarter valued at about $41,000. Quadrant Capital Group LLC grew its holdings in Grocery Outlet by 276.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock worth $43,000 after acquiring an additional 2,036 shares during the period. PNC Financial Services Group Inc. grew its holdings in Grocery Outlet by 472.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock worth $76,000 after acquiring an additional 4,040 shares during the period. GAMMA Investing LLC raised its position in shares of Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after acquiring an additional 3,644 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock valued at $91,000 after purchasing an additional 2,034 shares during the period. Institutional investors own 99.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and increased their price target for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Telsey Advisory Group restated a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, April 30th. Finally, UBS Group lifted their price target on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two research 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 stock. According to data from MarketBeat, Grocery Outlet has an average rating of "Hold" and an average price target of $15.62.

Grocery Outlet Trading Up 2.4%

Shares of NASDAQ:GO traded up $0.33 during mid-day trading on Tuesday, hitting $14.09. The company had a trading volume of 3,257,439 shares, compared to its average volume of 2,652,248. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $21.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.25 and a quick ratio of 0.25. The company has a market capitalization of $1.38 billion, a PE ratio of 88.07, a price-to-earnings-growth ratio of 4.42 and a beta of 0.29. The firm has a fifty day moving average price of $13.41 and a 200 day moving average price of $14.37.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly 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. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a net margin of 0.39% and a return on equity of 6.21%. Grocery Outlet's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. As a group, research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 19,000 shares of the stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director directly owned 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by corporate 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.