Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman Buys 25,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman acquired 25,000 shares of Grocery Outlet stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.88 per share, with a total value of $297,000.00. Following the completion of the transaction, the director now directly owns 64,592 shares of the company’s stock, valued at $767,352.96. This trade represents a 63.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Grocery Outlet Trading Down 4.5 %

Shares of GO stock opened at $11.33 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market capitalization of $1.10 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. The company has a 50 day moving average price of $15.86 and a 200 day moving average price of $16.97. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $29.13.

Analyst Ratings Changes

A number of research firms have weighed in on GO. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Finally, Bank of America lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in shares of Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Jane Street Group LLC raised its position in Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after purchasing an additional 406,039 shares during the last quarter. Choreo LLC purchased a new position in Grocery Outlet during the 4th quarter worth $245,000. Cerity Partners LLC raised its position in 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 buying an additional 94,969 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Grocery Outlet during the 3rd quarter worth $511,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

About Grocery Outlet

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.