Kenneth W. Alterman Buys 25,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman purchased 25,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 64,592 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available at this hyperlink.

Grocery Outlet Trading Down 4.5 %

Shares of GO stock opened at $11.33 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of 22.22, a PEG ratio of 9.08 and a beta of 0.32. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $29.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The firm’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $16.97.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Planning acquired a new stake in Grocery Outlet in the third quarter valued at approximately $198,000. Blue Trust Inc. grew its position in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Grocery Outlet in the third quarter valued at approximately $801,000. Nisa Investment Advisors LLC acquired a new stake in Grocery Outlet in the third quarter valued at approximately $181,000. Finally, Capital Performance Advisors LLP acquired a new stake in Grocery Outlet in the third quarter valued at approximately $32,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GO has been the topic of a number of recent analyst reports. Craig Hallum lowered their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Morgan Stanley reduced their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.25.

About Grocery Outlet

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.