Advantage Alpha Capital Partners LP Sells 196,422 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Advantage Alpha Capital Partners LP lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 51.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,212 shares of the company’s stock after selling 196,422 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Grocery Outlet were worth $3,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter worth $32,000. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at $38,000. Canada Pension Plan Investment Board bought a new position in shares of Grocery Outlet in the second quarter valued at about $82,000. Finally, Nisa Investment Advisors LLC acquired a new position in Grocery Outlet during the 3rd quarter worth about $181,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Roth Mkm lowered their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Craig Hallum dropped their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $20.88 on Tuesday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 40.94, a PEG ratio of 4.92 and a beta of 0.13. The business has a 50-day moving average of $16.90 and a 200-day moving average of $19.05. 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 $13.60 and a 1 year high of $29.80.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

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.