Insider Buying: Grocery Outlet (NASDAQ:GO) Insider Purchases $87,200.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) insider Paul Blaine Miller purchased 8,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $87,200.00. Following the acquisition, the insider directly owned 72,171 shares of the company’s stock, valued at $786,663.90. This trade represents a 12.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Paul Blaine Miller also recently made the following trade(s):

• On Thursday, June 25th, Paul Blaine Miller acquired 5,000 shares of Grocery Outlet stock. The shares were acquired at an average price of $9.50 per share, with a total value of $47,500.00.
• On Thursday, June 18th, Paul Blaine Miller acquired 10,000 shares of Grocery Outlet stock. The stock was acquired at an average cost of $9.37 per share, with a total value of $93,700.00.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $11.60 on Monday. The firm has a fifty day moving average of $9.90 and a 200-day moving average of $8.71. Grocery Outlet Holding Corp. has a 52-week low of $5.66 and a 52-week high of $19.23. The company has a quick ratio of 0.30, a current ratio of 1.29 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.15 billion, a P/E ratio of -3.00, a PEG ratio of 8.87 and a beta of 0.65.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Wednesday, August 12th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

GO has been the subject of a number of recent research reports. DA Davidson increased their target price on Grocery Outlet from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $9.00 price target on shares of Grocery Outlet in a research report on Thursday, August 13th. TD Cowen restated a “hold” rating on shares of Grocery Outlet in a report on Tuesday, August 18th. UBS Group increased their price objective on shares of Grocery Outlet from $10.00 to $11.50 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, Telsey Advisory Group reiterated a “market perform” rating on shares of Grocery Outlet in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Reduce” and a consensus target price of $10.59.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd grew its position in shares of Grocery Outlet by 1,030.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock worth $26,000 after acquiring an additional 2,308 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Grocery Outlet during the 4th quarter valued at approximately $35,000. Allworth Financial LP acquired a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $40,000. Quantbot Technologies LP bought a new position in Grocery Outlet during the second quarter worth $46,000. Finally, Public Employees Retirement System of Ohio bought a new position in Grocery Outlet during the second quarter worth $58,000. Institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.