Amalgamated Bank Has $974,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Amalgamated Bank lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 34.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,048 shares of the company’s stock after selling 22,917 shares during the period. Amalgamated Bank’s holdings in Grocery Outlet were worth $974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the first quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in shares of Grocery Outlet in the 2nd quarter valued at $38,000. Daiwa Securities Group Inc. bought a new position in shares of Grocery Outlet in the 1st quarter valued at $127,000. Bleakley Financial Group LLC acquired a new position in shares of Grocery Outlet during the 1st quarter worth $217,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Grocery Outlet during the 2nd quarter worth $217,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Up 3.5 %

Shares of NASDAQ:GO opened at $17.67 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of 27.61, a P/E/G ratio of 3.12 and a beta of 0.10. Grocery Outlet Holding Corp. has a 12-month low of $15.72 and a 12-month high of $29.98. The business has a fifty day simple moving average of $18.25 and a 200 day simple moving average of $21.95. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. Analysts predict that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were 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 directly owns 70,938 shares in the company, valued at $1,155,580.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 over the last three months. 4.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. Melius Research started coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Telsey Advisory Group cut their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have issued 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, the stock presently 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.