Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Numerai GP LLC

Numerai GP LLC cut its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 71.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,146 shares of the company's stock after selling 48,272 shares during the period. Numerai GP LLC's holdings in Grocery Outlet were worth $299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Grocery Outlet by 1,224.1% during 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. Wealth Enhancement Advisory Services LLC boosted its position in Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company's stock valued at $732,000 after buying an additional 1,240 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet in the fourth quarter worth $31,000. Red Spruce Capital LLC increased its position in shares of Grocery Outlet by 10.2% during the fourth quarter. Red Spruce Capital LLC now owns 130,924 shares of the company's stock worth $2,044,000 after acquiring an additional 12,124 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at $658,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of NASDAQ:GO traded down $0.48 on Wednesday, reaching $13.49. 902,623 shares of the company were exchanged, compared to its average volume of 2,405,174. The company has a 50-day moving average of $14.32 and a 200-day moving average of $15.78. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $23.25.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on GO shares. 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. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. UBS Group increased their target price on shares of Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Bank of America reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.62.

Insiders Place Their Bets

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

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.