Lighthouse Investment Partners LLC Acquires New Shares in Grocery Outlet Holding Corp. (NASDAQ:GO)

Lighthouse Investment Partners LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 78,831 shares of the company's stock, valued at approximately $1,231,000. Lighthouse Investment Partners LLC owned approximately 0.08% of Grocery Outlet as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC raised its holdings in Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after acquiring an additional 277,706 shares during the last quarter. Sterling Capital Management LLC raised its holdings in 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 acquiring an additional 2,034 shares during the last quarter. Choreo LLC acquired a new position in Grocery Outlet in the 4th quarter valued at $245,000. New York State Common Retirement Fund raised its holdings in Grocery Outlet by 124.7% in the 4th quarter. New York State Common Retirement Fund now owns 88,350 shares of the company's stock valued at $1,379,000 after acquiring an additional 49,035 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Grocery Outlet in the 4th quarter valued at $1,079,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Stock Performance

NASDAQ GO traded down $0.23 during trading hours on Tuesday, reaching $13.90. The company's stock had a trading volume of 351,832 shares, compared to its average volume of 2,398,363. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $15.79. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $23.25. The stock has a market cap of $1.36 billion, a PE ratio of 27.23, a PEG ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christopher M. Miller purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $116,800. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erik D. Ragatz acquired 19,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $14.46 per share, with a total value of $274,740.00. Following the purchase, the director now owns 19,000 shares in the company, valued at $274,740. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 219,000 shares of company stock worth $2,709,790 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GO has been the subject of a number of research analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. UBS Group raised their price objective on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.62.

Grocery Outlet Company 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.