Solel Partners LP Acquires 51,367 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Solel Partners LP boosted its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,491,567 shares of the company's stock after buying an additional 51,367 shares during the quarter. Grocery Outlet makes up about 7.6% of Solel Partners LP's holdings, making the stock its 6th biggest position. Solel Partners LP owned about 2.56% of Grocery Outlet worth $38,893,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet during the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new position in Grocery Outlet in the 4th quarter valued at about $41,000. Quadrant Capital Group LLC boosted its holdings in Grocery Outlet by 276.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after purchasing an additional 2,036 shares during the last quarter. KBC Group NV boosted its stake in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after acquiring an additional 1,736 shares during the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, April 30th. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group raised 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. Two equities 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.46.

Insider Activity

In other Grocery Outlet news, EVP Steven K. Wilson sold 6,682 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the sale, the executive vice president now owns 166,923 shares of the company's stock, valued at approximately $2,196,706.68. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher M. Miller bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $116,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Down 1.1 %

GO stock traded down $0.18 during midday trading on Monday, hitting $16.30. The company's stock had a trading volume of 5,675,467 shares, compared to its average volume of 2,365,079. The company's fifty day moving average price is $13.71 and its 200 day moving average price is $15.91. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $26.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock has a market capitalization of $1.60 billion, a P/E ratio of 31.96, a PEG ratio of 9.08 and a beta of 0.42.

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.