Lindsay E. Gray Sells 1,856 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Lindsay E. Gray sold 1,856 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $24,424.96. Following the completion of the transaction, the senior vice president now directly owns 39,592 shares in the company, valued at $521,030.72. This trade represents a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Grocery Outlet Stock Down 4.3 %

Shares of GO stock traded down $0.58 during trading hours on Tuesday, hitting $12.88. 2,838,419 shares of the company were exchanged, compared to its average volume of 2,024,251. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $29.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $15.52 and a two-hundred day moving average of $16.74. The company has a market capitalization of $1.25 billion, a PE ratio of 25.26, a PEG ratio of 9.08 and a beta of 0.36.

Analyst Upgrades and Downgrades

GO has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 26th. Bank of America decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut 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. Telsey Advisory Group lowered their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.25.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet in the third quarter valued at about $32,000. Decker Retirement Planning Inc. acquired a new stake in Grocery Outlet in the 4th quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Grocery Outlet in the 4th quarter valued at approximately $41,000. Quadrant Capital Group LLC lifted its stake in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after acquiring an additional 2,036 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Grocery Outlet during the 3rd quarter worth approximately $75,000. Institutional investors own 99.87% of the company’s stock.

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.