Bridgefront Capital LLC Takes $249,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bridgefront Capital LLC acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,484 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors have also modified their holdings of the stock. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Grocery Outlet in the 3rd quarter valued at approximately $454,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Grocery Outlet by 0.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,903,966 shares of the company’s stock worth $96,673,000 after acquiring an additional 10,556 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Grocery Outlet by 149.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 452,722 shares of the company’s stock worth $15,071,000 after acquiring an additional 270,925 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Grocery Outlet by 32.0% during the 3rd quarter. Fred Alger Management LLC now owns 960,715 shares of the company’s stock worth $31,982,000 after acquiring an additional 232,774 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its stake in shares of Grocery Outlet by 450.0% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 148,906 shares of the company’s stock worth $4,957,000 after acquiring an additional 121,831 shares during the last quarter. 97.42% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $29.40, for a total value of $58,800.00. Following the transaction, the director now directly owns 35,400 shares in the company, valued at approximately $1,040,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Steven K. Wilson sold 3,991 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $27.46, for a total transaction of $109,592.86. Following the transaction, the insider now directly owns 195,062 shares in the company, valued at approximately $5,356,402.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $29.40, for a total value of $58,800.00. Following the transaction, the director now owns 35,400 shares in the company, valued at $1,040,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,588 shares of company stock worth $3,540,260. 11.20% of the stock is currently owned by company insiders.

Grocery Outlet Trading Down 1.1 %

GO opened at $27.10 on Friday. Grocery Outlet Holding Corp. has a 52 week low of $25.71 and a 52 week high of $46.37. The stock’s fifty day moving average is $28.96 and its two-hundred day moving average is $31.38. The company has a market capitalization of $2.65 billion, a P/E ratio of 41.69, a PEG ratio of 3.44 and a beta of -0.02. The company has a quick ratio of 0.47, a current ratio of 1.67 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GO shares. Telsey Advisory Group reissued an “outperform” rating and set a $44.00 price target on shares of Grocery Outlet in a research note on Friday, February 24th. The Goldman Sachs Group decreased their price target on Grocery Outlet from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. TheStreet lowered Grocery Outlet from a “b-” rating to a “c+” rating in a research note on Wednesday, February 1st. Morgan Stanley reduced their price objective on Grocery Outlet from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, March 1st. Finally, Roth Capital restated a “neutral” rating on shares of Grocery Outlet in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $39.20.

Grocery Outlet Company Profile

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Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.