Grocery Outlet Holding Corp. (NASDAQ:GO) Short Interest Up 5.2% in June

Grocery Outlet Holding Corp. (NASDAQ:GO) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 9,520,000 shares, a growth of 5.2% from the May 31st total of 9,050,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 10.0% of the shares of the company are sold short.

Insider Transactions at Grocery Outlet

In other news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the sale, the executive vice president now directly owns 32,306 shares in the company, valued at $724,623.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the transaction, the executive vice president now directly owns 32,306 shares in the company, valued at approximately $724,623.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erik D. Ragatz bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the purchase, the director now owns 429,785 shares in the company, valued at $8,986,804.35. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Grocery Outlet

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $113,000. Daiwa Securities Group Inc. bought a new position in shares of Grocery Outlet during the 1st quarter worth approximately $127,000. Headlands Technologies LLC grew its stake in shares of Grocery Outlet by 32,200.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after acquiring an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Grocery Outlet during the 4th quarter worth approximately $193,000. 99.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

GO has been the topic of several analyst reports. UBS Group lowered their price target on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Telsey Advisory Group lowered their target price on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Roth Mkm lowered their target price on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Finally, TD Cowen lowered their target price on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.90.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $21.49 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Grocery Outlet has a 1 year low of $19.73 and a 1 year high of $36.54. The company has a market cap of $2.15 billion, a PE ratio of 33.58, a PEG ratio of 4.06 and a beta of 0.09. The company’s 50-day moving average is $22.20 and its two-hundred day moving average is $25.10.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. Equities analysts anticipate that Grocery Outlet will post 0.69 earnings per share for the current year.

Grocery Outlet Company 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.