Grocery Outlet Holding Corp. (NASDAQ:GO) Director Buys $297,000.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman purchased 25,000 shares of Grocery Outlet stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 64,592 shares in the company, valued at approximately $767,352.96. This trade represents a 63.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Grocery Outlet Stock Down 4.5 %

Shares of GO traded down $0.54 during midday trading on Monday, reaching $11.33. The stock had a trading volume of 2,986,183 shares, compared to its average volume of 1,958,553. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.08 and a beta of 0.32. The company’s fifty day simple moving average is $15.95 and its two-hundred day simple moving average is $17.02. 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.

Analyst Ratings Changes

GO has been the subject of several research reports. Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. UBS Group cut their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Roth Mkm reduced their price target on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.25.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new position in Grocery Outlet during the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in Grocery Outlet during the fourth quarter worth approximately $41,000. Finally, Quadrant Capital Group LLC lifted its stake in Grocery Outlet by 276.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after buying an additional 2,036 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.