Insider Buying: Grocery Outlet Holding Corp. (NASDAQ:GO) Director Acquires 25,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman bought 25,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.88 per share, with a total value of $297,000.00. Following the transaction, the director now owns 64,592 shares in the company, valued at approximately $767,352.96. This represents a 63.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grocery Outlet Stock Up 1.3 %

GO opened at $11.47 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13. The stock’s 50 day moving average price is $15.69 and its 200 day moving average price is $16.87. The stock has a market cap of $1.12 billion, a P/E ratio of 22.49, a P/E/G ratio of 9.08 and a beta of 0.36.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Jane Street Group LLC raised its position in Grocery Outlet by 357.7% during the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after buying an additional 406,039 shares during the period. Choreo LLC purchased a new stake in Grocery Outlet in the 4th quarter worth about $245,000. Cerity Partners LLC lifted its stake in Grocery Outlet by 887.1% in the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after acquiring an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Grocery Outlet during the 3rd quarter worth about $511,000. Institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GO. Bank of America reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Telsey Advisory Group reduced their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. Roth Mkm lowered their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut 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, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.25.

Grocery Outlet Company Profile

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.