Grocery Outlet (NASDAQ:GO) Shares Gap Up on Insider Buying Activity

Grocery Outlet Holding Corp. (NASDAQ:GO) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $11.83, but opened at $12.33. Grocery Outlet shares last traded at $12.02, with a volume of 535,930 shares traded.

Specifically, CFO Christopher M. Miller bought 10,000 shares of Grocery Outlet stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analyst Weigh In

GO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research report on Wednesday. Roth Mkm reduced their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. UBS Group reduced their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Finally, Telsey Advisory Group reduced their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Price Performance

The company has a fifty day moving average of $15.95 and a 200-day moving average of $17.05. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.15 billion, a PE ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32.

Institutional Investors Weigh In On Grocery Outlet

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its holdings in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after purchasing an additional 277,706 shares during the period. Jane Street Group LLC increased its holdings in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after purchasing an additional 406,039 shares during the period. Choreo LLC purchased a new stake in Grocery Outlet during the 4th quarter worth about $245,000. Cerity Partners LLC boosted its position in shares of Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after acquiring an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Grocery Outlet during the 3rd quarter worth about $511,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.