Aigen Investment Management LP Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Aigen Investment Management LP bought a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 21,389 shares of the company’s stock, valued at approximately $334,000.

Several other large investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its stake in shares of Grocery Outlet by 159.8% during the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after buying an additional 759,697 shares during the period. Jane Street Group LLC lifted its position in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after acquiring an additional 406,039 shares during the period. Barclays PLC grew its stake in Grocery Outlet by 1,224.1% during the 3rd 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 during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Grocery Outlet by 23.2% in the third quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock valued at $16,060,000 after purchasing an additional 172,050 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Grocery Outlet by 14.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock worth $20,542,000 after purchasing an additional 147,312 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 13.6 %

Shares of NASDAQ:GO opened at $13.10 on Friday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. The business’s 50 day moving average price is $15.55 and its 200-day moving average price is $16.78. 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 1 year low of $10.26 and a 1 year high of $29.13.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GO. The Goldman Sachs Group dropped their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Bank of America decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price on 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, Telsey Advisory Group reduced their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Two investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.25.

Insider Activity

In other Grocery Outlet news, CFO Christopher M. Miller bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik D. Ragatz purchased 165,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. This represents a 452.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 200,000 shares of company stock worth $2,435,050 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

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.