Tower Research Capital LLC TRC Makes New $68,000 Investment in Grocery Outlet Holding Corp. (NYSE:GO)

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Tower Research Capital LLC TRC acquired a new position in shares of Grocery Outlet Holding Corp. (NYSE:GO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,979 shares of the company’s stock, valued at approximately $68,000.

Other institutional investors also recently bought and sold shares of the company. AllSquare Wealth Management LLC bought a new position in Grocery Outlet during the 1st quarter worth $26,000. American International Group Inc. increased its stake in Grocery Outlet by 68.8% during the 1st quarter. American International Group Inc. now owns 915 shares of the company’s stock worth $31,000 after acquiring an additional 373 shares during the period. Great West Life Assurance Co. Can bought a new position in Grocery Outlet during the 4th quarter worth $46,000. BNP Paribas Arbitrage SA increased its stake in Grocery Outlet by 24.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,784 shares of the company’s stock worth $61,000 after acquiring an additional 356 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Grocery Outlet in the 1st quarter valued at $69,000.

GO has been the topic of several recent analyst reports. UBS Group lifted their price target on Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Telsey Advisory Group reiterated an “outperform” rating on shares of Grocery Outlet in a research note on Tuesday, March 17th. Nomura initiated coverage on Grocery Outlet in a research note on Tuesday, June 16th. They issued a “buy” rating and a $40.00 price target on the stock. Goldman Sachs Group initiated coverage on Grocery Outlet in a research note on Friday, May 15th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Cowen reiterated a “buy” rating and issued a $48.00 price target on shares of Grocery Outlet in a research note on Thursday, June 18th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Grocery Outlet presently has a consensus rating of “Buy” and a consensus target price of $42.23.

In other Grocery Outlet news, insider Thomas H. Mcmahon sold 72,000 shares of Grocery Outlet stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $32.73, for a total transaction of $2,356,560.00. Following the transaction, the insider now directly owns 141,195 shares of the company’s stock, valued at approximately $4,621,312.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $32.69, for a total value of $65,380.00. Insiders have sold a total of 17,645,963 shares of company stock worth $579,471,221 over the last ninety days.

Shares of GO stock opened at $41.50 on Wednesday. Grocery Outlet Holding Corp. has a twelve month low of $28.11 and a twelve month high of $47.57. The stock’s fifty day simple moving average is $36.38 and its 200 day simple moving average is $33.91.

Grocery Outlet (NYSE:GO) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $760.30 million for the quarter, compared to the consensus estimate of $748.13 million. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

Further Reading: How To Calculate Debt-to-Equity Ratio

Institutional Ownership by Quarter for Grocery Outlet (NYSE:GO)

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