Tower Research Capital LLC TRC Increases Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Tower Research Capital LLC TRC boosted its stake in Grocery Outlet Holding Corp. (NASDAQ:GOFree Report) by 261.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,471 shares of the company’s stock after buying an additional 41,592 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Grocery Outlet were worth $1,549,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GO. Acadian Asset Management LLC bought a new position in shares of Grocery Outlet in the 3rd quarter worth about $113,000. Headlands Technologies LLC grew its holdings in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after purchasing an additional 4,830 shares during the period. Quest Partners LLC bought a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $193,000. Corton Capital Inc. purchased a new position in shares of Grocery Outlet during the third quarter valued at approximately $216,000. Finally, Numerai GP LLC bought a new stake in shares of Grocery Outlet in the 3rd quarter worth approximately $236,000. 99.87% of the stock is owned by institutional investors.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 100,000 shares of the stock in a transaction dated Friday, May 10th. The shares were purchased at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the purchase, the director now directly owns 429,785 shares of the company’s stock, valued at $8,986,804.35. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Grocery Outlet news, Director Erik D. Ragatz acquired 100,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $20.91 per share, with a total value of $2,091,000.00. Following the transaction, the director now directly owns 429,785 shares in the company, valued at approximately $8,986,804.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares of the company’s stock, valued at $301,600. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 146,500 shares of company stock worth $3,323,025 and sold 49,349 shares worth $1,374,208. 4.50% of the stock is owned by company insiders.

Grocery Outlet Stock Up 1.1 %

GO opened at $21.14 on Tuesday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 3.69 and a beta of 0.09. The firm has a 50 day moving average price of $24.22 and a 200-day moving average price of $25.99. Grocery Outlet Holding Corp. has a twelve month low of $19.73 and a twelve month high of $36.54. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23.

Grocery Outlet (NASDAQ:GOGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. Equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GO shares. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. TD Cowen lowered their price target on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Roth Mkm reduced their price objective on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Finally, UBS Group dropped their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $28.90.

Get Our Latest Stock Analysis on GO

Grocery Outlet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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