Insider Buying: Grocery Outlet (NASDAQ:GO) Insider Buys $87,200.00 in Stock

Key Points

• Insider buying: Paul Blaine Miller purchased 8,000 Grocery Outlet shares at $10.90 each, investing $87,200 and increasing his position by 12.47%. He also bought 15,000 shares in June.
• Quarterly results: Grocery Outlet reported quarterly earnings of $0.20 per share, beating estimates of $0.13, while revenue rose 1.1% year over year to $1.19 billion.
• Market view remains cautious: Shares recently traded at $11.60, but analysts maintain predominantly neutral or negative ratings, with a consensus “Reduce” rating and an average price target of $10.59.

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) insider Paul Blaine Miller bought 8,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $10.90 per share, with a total value of $87,200.00. Following the transaction, the insider owned 72,171 shares in the company, valued at $786,663.90. The trade was a 12.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Paul Blaine Miller also recently made the following trade(s):

• On Thursday, June 25th, Paul Blaine Miller acquired 5,000 shares of Grocery Outlet stock. The shares were bought at an average price of $9.50 per share, for a total transaction of $47,500.00.
• On Thursday, June 18th, Paul Blaine Miller bought 10,000 shares of Grocery Outlet stock. The shares were bought at an average cost of $9.37 per share, for a total transaction of $93,700.00.

Grocery Outlet Price Performance

Shares of NASDAQ GO traded up $0.49 during mid-day trading on Friday, reaching $11.60. 2,216,858 shares of the company traded hands, compared to its average volume of 2,853,728. Grocery Outlet Holding Corp. has a fifty-two week low of $5.66 and a fifty-two week high of $19.23. The firm has a market cap of $1.15 billion, a PE ratio of -3.00, a price-to-earnings-growth ratio of 8.56 and a beta of 0.65. The stock has a fifty day simple moving average of $9.86 and a 200-day simple moving average of $8.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.29 and a quick ratio of 0.30.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GO shares. DA Davidson boosted their target price on Grocery Outlet from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Grocery Outlet from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 13th. Telsey Advisory Group reiterated a "market perform" rating on shares of Grocery Outlet in a report on Thursday, August 13th. Roth Capital reaffirmed a "neutral" rating and issued a $10.00 price target on shares of Grocery Outlet in a research note on Thursday, August 13th. Finally, UBS Group raised their price objective on shares of Grocery Outlet from $10.00 to $11.50 and gave the company a "neutral" rating in a research report on Monday. Twelve investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Grocery Outlet has a consensus rating of "Reduce" and an average price target of $10.59.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd boosted its position in shares of Grocery Outlet by 1,030.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company's stock valued at $26,000 after acquiring an additional 2,308 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Grocery Outlet in the fourth quarter worth about $35,000. Allworth Financial LP bought a new stake in shares of Grocery Outlet during the second quarter worth approximately $40,000. Quantbot Technologies LP bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at $46,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Grocery Outlet in the second quarter valued at about $58,000. Institutional investors and hedge funds own 99.87% of the company's stock.

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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