Grocery Outlet Holding Corp. (NASDAQ:GO) Director Buys $297,000.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman purchased 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.88 per share, for a total transaction of $297,000.00. Following the purchase, the director now owns 64,592 shares of the company’s stock, valued at $767,352.96. This trade represents a 63.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Grocery Outlet Price Performance

Shares of GO stock opened at $11.47 on Thursday. The firm has a fifty day simple moving average of $15.69 and a 200-day simple moving average of $16.87. The company has a market capitalization of $1.12 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $29.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Grocery Outlet by 8.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,642 shares of the company’s stock worth $4,896,000 after purchasing an additional 23,606 shares during the last quarter. Voloridge Investment Management LLC grew its position in shares of Grocery Outlet by 28.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company’s stock worth $19,346,000 after buying an additional 277,489 shares in the last quarter. Twinbeech Capital LP bought a new stake in shares of Grocery Outlet in the fourth quarter worth $4,040,000. Two Sigma Advisers LP bought a new stake in shares of Grocery Outlet in the fourth quarter worth $1,033,000. Finally, Two Sigma Investments LP raised its holdings in Grocery Outlet by 188.3% in the fourth quarter. Two Sigma Investments LP now owns 396,445 shares of the company’s stock valued at $6,189,000 after acquiring an additional 258,913 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GO. Telsey Advisory Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Roth Mkm dropped their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.25.

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.