Pallas Capital Advisors LLC Takes $474,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Pallas Capital Advisors LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,803 shares of the company’s stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $181,000. Semanteon Capital Management LP acquired a new position in Grocery Outlet during the 3rd quarter worth approximately $434,000. Wealth Enhancement Advisory Services LLC acquired a new position in Grocery Outlet during the 3rd quarter worth approximately $801,000. Blue Trust Inc. increased its position in Grocery Outlet by 76.6% during 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. Finally, Washington Capital Management Inc. increased its position in Grocery Outlet by 24.6% during the 3rd quarter. Washington Capital Management Inc. now owns 22,300 shares of the company’s stock worth $391,000 after purchasing an additional 4,400 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 2.9 %

NASDAQ:GO opened at $14.30 on Friday. The firm’s fifty day moving average is $16.86 and its 200-day moving average is $20.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.98. The firm has a market cap of $1.40 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.21 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.10 billion. During the same period in the prior year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. 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 the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GO has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $17.00 in a research report on Wednesday. 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. Roth Mkm reduced their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Melius Research initiated coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $20.27.

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.