Short Interest in Grocery Outlet Holding Corp. (NASDAQ:GO) Decreases By 8.3%

Grocery Outlet Holding Corp. (NASDAQ:GO) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 9,190,000 shares, a decrease of 8.3% from the September 15th total of 10,020,000 shares. Based on an average daily trading volume, of 2,000,000 shares, the short-interest ratio is currently 4.6 days. Currently, 9.8% of the company’s stock are short sold.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the 1st quarter worth $25,000. Innealta Capital LLC acquired a new position in Grocery Outlet during the second quarter worth about $38,000. Canada Pension Plan Investment Board bought a new position in shares of Grocery Outlet in the second quarter worth about $82,000. Daiwa Securities Group Inc. acquired a new stake in shares of Grocery Outlet in the 1st quarter valued at approximately $127,000. Finally, Creative Planning bought a new stake in shares of Grocery Outlet during the 3rd quarter valued at approximately $198,000. Institutional investors own 99.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GO. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. Roth Mkm reduced their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Telsey Advisory Group cut their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.11.

Grocery Outlet Trading Up 3.9 %

Shares of GO stock opened at $16.45 on Wednesday. The stock has a market cap of $1.64 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.10 and a beta of 0.10. Grocery Outlet has a 1 year low of $15.18 and a 1 year high of $29.98. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $20.90.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. Grocery Outlet’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. On average, research analysts predict that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

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.