Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 54.0% during the second quarter, HoldingsChannel.com reports. The fund owned 300,000 shares of the company’s stock after buying an additional 105,160 shares during the period. Lighthouse Investment Partners LLC’s holdings in Grocery Outlet were worth $6,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in Grocery Outlet in the first quarter valued at $25,000. Innealta Capital LLC acquired a new position in Grocery Outlet in the 2nd quarter valued at about $38,000. Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet during the 2nd quarter valued at approximately $82,000. Daiwa Securities Group Inc. purchased a new stake in Grocery Outlet during the 1st quarter valued at approximately $127,000. Finally, Bleakley Financial Group LLC acquired a new stake in Grocery Outlet during the 1st quarter worth approximately $217,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,335,762.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction 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 transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is owned by insiders.

Grocery Outlet Trading Up 5.1 %

NASDAQ:GO opened at $17.08 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10. Grocery Outlet Holding Corp. has a 52-week low of $15.72 and a 52-week high of $29.98. The stock has a fifty day simple moving average of $18.33 and a 200-day simple moving average of $22.01. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Telsey Advisory Group dropped their target price on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Melius Research started coverage on shares of Grocery Outlet in a research report on Monday. They set a “hold” rating and a $17.00 price objective for the company. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Roth Mkm cut their price target 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. Finally, Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and an average price target of $22.11.

Grocery Outlet 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.