Versor Investments LP Invests $634,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Versor Investments LP acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 36,124 shares of the company’s stock, valued at approximately $634,000.

Several other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the first quarter valued at $25,000. Blue Trust Inc. increased its stake in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the third quarter worth approximately $32,000. Innealta Capital LLC purchased a new position in Grocery Outlet during the 2nd quarter worth approximately $38,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet during the 2nd quarter valued at $82,000. Institutional investors own 99.87% of the company’s stock.

Insiders Place Their Bets

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

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $19.11 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. The stock has a market capitalization of $1.86 billion, a P/E ratio of 37.86, a P/E/G ratio of 4.76 and a beta of 0.13. The business has a 50-day moving average of $16.57 and a two-hundred day moving average of $19.42. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, equities research analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GO shares. UBS Group lowered their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

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.