GSA Capital Partners LLP Takes $2.51 Million Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

GSA Capital Partners LLP acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 142,846 shares of the company’s stock, valued at approximately $2,507,000. GSA Capital Partners LLP owned about 0.15% of Grocery Outlet as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors increased its stake in shares of Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Grocery Outlet by 677.6% in the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the period. CWM LLC lifted its stake in shares of Grocery Outlet by 505.6% in the 3rd quarter. CWM LLC now owns 51,933 shares of the company’s stock valued at $911,000 after purchasing an additional 43,358 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Grocery Outlet in the 1st quarter valued at about $217,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Grocery Outlet by 137.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 197,916 shares of the company’s stock valued at $4,378,000 after purchasing an additional 114,576 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 5.4 %

NASDAQ:GO opened at $18.77 on Tuesday. 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. 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 business has a fifty day moving average price of $16.54 and a 200-day moving average price of $19.47. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.98.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.65 EPS for the current year.

Insider Buying and Selling

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. 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 can be accessed through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock valued at $8,876,548 in the last ninety days. 4.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Craig Hallum reduced their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. Telsey Advisory Group dropped their price objective on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Finally, Roth Mkm dropped their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet 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.