GSA Capital Partners LLP Buys Shares of 201,159 Grocery Outlet Holding Corp. $GO

GSA Capital Partners LLP purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 201,159 shares of the company’s stock, valued at approximately $2,008,000.

A number of other large investors have also made changes to their positions in GO. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Grocery Outlet by 54.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 15,763,945 shares of the company’s stock valued at $159,216,000 after purchasing an additional 5,528,722 shares during the last quarter. Millennium Management LLC increased its position in Grocery Outlet by 3,558.0% during the 3rd quarter. Millennium Management LLC now owns 1,825,407 shares of the company’s stock valued at $29,298,000 after buying an additional 1,775,505 shares in the last quarter. UBS Group AG increased its position in Grocery Outlet by 87.6% during the 4th quarter. UBS Group AG now owns 2,726,299 shares of the company’s stock valued at $27,536,000 after buying an additional 1,272,859 shares in the last quarter. Boston Partners raised its stake in Grocery Outlet by 219.7% in the third quarter. Boston Partners now owns 1,462,633 shares of the company’s stock valued at $23,475,000 after buying an additional 1,005,126 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Grocery Outlet by 106.5% in the fourth quarter. Invesco Ltd. now owns 1,914,410 shares of the company’s stock valued at $19,336,000 after buying an additional 987,367 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GO shares. Morgan Stanley upped their price objective on shares of Grocery Outlet from $7.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Grocery Outlet from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen upped their target price on Grocery Outlet from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $9.00 price target on shares of Grocery Outlet in a research report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating on shares of Grocery Outlet in a research note on Thursday. Twelve analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Grocery Outlet currently has a consensus rating of “Reduce” and an average price target of $10.59.

Insider Activity

In other Grocery Outlet news, insider Paul Blaine Miller bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average cost of $9.37 per share, for a total transaction of $93,700.00. Following the completion of the transaction, the insider directly owned 59,171 shares of the company’s stock, valued at approximately $554,432.27. This trade represents a 20.34% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.

Grocery Outlet Stock Performance

GO opened at $11.13 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.27 and a debt-to-equity ratio of 0.60. Grocery Outlet Holding Corp. has a 12-month low of $5.66 and a 12-month high of $19.23. The firm has a 50 day moving average of $9.69 and a two-hundred day moving average of $8.65. The firm has a market capitalization of $1.10 billion, a PE ratio of -2.88, a P/E/G ratio of 17.35 and a beta of 0.65.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.37 EPS for the current year.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.