Penserra Capital Management LLC Reduces Holdings in GrowGeneration Corp. (NASDAQ:GRWG)

Penserra Capital Management LLC reduced its position in GrowGeneration Corp. (NASDAQ:GRWG) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 484,394 shares of the company’s stock after selling 34,875 shares during the period. Penserra Capital Management LLC owned approximately 0.82% of GrowGeneration worth $1,031,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GRWG. Vanguard Group Inc. boosted its holdings in GrowGeneration by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock valued at $8,559,000 after purchasing an additional 21,306 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of GrowGeneration during the first quarter worth approximately $5,934,000. Dimensional Fund Advisors LP increased its stake in shares of GrowGeneration by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock worth $3,034,000 after buying an additional 43,701 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in GrowGeneration by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after acquiring an additional 11,742 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in GrowGeneration by 44.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after acquiring an additional 55,000 shares during the last quarter. 36.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GrowGeneration

In related news, CEO Darren Lampert bought 57,467 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $1.75 per share, with a total value of $100,567.25. Following the completion of the acquisition, the chief executive officer now owns 1,595,883 shares of the company’s stock, valued at $2,792,795.25. This trade represents a 3.74 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Salaman purchased 58,476 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average price of $1.74 per share, for a total transaction of $101,748.24. Following the completion of the transaction, the president now directly owns 1,503,848 shares in the company, valued at approximately $2,616,695.52. This trade represents a 4.05 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GRWG. Roth Mkm dropped their target price on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Alliance Global Partners lowered their price objective on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, GrowGeneration has an average rating of “Hold” and a consensus target price of $2.75.

GrowGeneration Stock Performance

Shares of NASDAQ:GRWG opened at $1.93 on Wednesday. The company’s fifty day moving average is $2.00 and its two-hundred day moving average is $2.19. GrowGeneration Corp. has a 1-year low of $1.55 and a 1-year high of $3.38. The stock has a market capitalization of $114.34 million, a price-to-earnings ratio of -2.22 and a beta of 3.14.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.