New Age Alpha Advisors LLC Takes $257,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

New Age Alpha Advisors LLC purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 16,476 shares of the company’s stock, valued at approximately $257,000.

A number of other large investors also recently bought and sold shares of GO. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet in the fourth quarter worth $31,000. KBC Group NV boosted its stake in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after purchasing an additional 1,736 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Grocery Outlet by 472.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company’s stock valued at $76,000 after purchasing an additional 4,040 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Grocery Outlet during the 4th quarter valued at about $161,000. Finally, Natixis Advisors LLC purchased a new position in Grocery Outlet in the fourth quarter worth about $240,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Down 0.9 %

GO opened at $13.85 on Wednesday. The firm’s 50 day simple moving average is $14.47 and its two-hundred day simple moving average is $16.19. The company has a market capitalization of $1.35 billion, a PE ratio of 27.16, a PEG ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $28.60. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GO shares. Telsey Advisory Group reduced their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Bank of America dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $15.25.

Insider Buying and Selling

In related news, EVP Steven K. Wilson sold 6,477 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the sale, the executive vice president now directly owns 173,605 shares of the company’s stock, valued at approximately $1,968,680.70. This represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erik D. Ragatz purchased 165,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the acquisition, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. This represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is owned by insiders.

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.