GSA Capital Partners LLP Buys Shares of 142,846 Grocery Outlet Holding Corp. (NASDAQ:GO)

GSA Capital Partners LLP purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 142,846 shares of the company’s stock, valued at approximately $2,507,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GO. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet in the 1st quarter valued at approximately $25,000. Blue Trust Inc. boosted its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the 3rd quarter worth $32,000. Innealta Capital LLC acquired a new stake in Grocery Outlet during the 2nd quarter worth $38,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet during the 2nd quarter worth $82,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GO has been the subject of a number of research analyst reports. Melius Research initiated coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Loop Capital started coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet presently has a consensus rating of “Hold” and an average target price of $18.00.

Insider Buying and Selling

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 500,095 shares of company stock worth $8,876,548. Insiders own 4.50% of the company’s stock.

Grocery Outlet Price Performance

NASDAQ GO opened at $18.77 on Tuesday. The company has a 50 day simple moving average of $16.54 and a 200-day simple moving average of $19.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.29. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 4.45 and a beta of 0.13. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.65 earnings per share for the current fiscal year.

About Grocery Outlet

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.