Grocery Outlet (NASDAQ:GO) Stock Price Down 6.5% Following Insider Selling

Grocery Outlet Holding Corp. (NASDAQ:GO)’s share price traded down 6.5% during trading on Wednesday following insider selling activity. The company traded as low as $12.09 and last traded at $12.05. 303,531 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,022,198 shares. The stock had previously closed at $12.88.

Specifically, EVP Steven K. Wilson sold 6,682 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction of $87,935.12. Following the sale, the executive vice president now owns 166,923 shares of the company’s stock, valued at $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the sale, the senior vice president now directly owns 41,448 shares in the company, valued at $470,020.32. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, EVP Steven K. Wilson sold 6,477 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the transaction, the executive vice president now owns 173,605 shares of the company’s stock, valued at approximately $1,968,680.70. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

Several research firms have commented on GO. Wells Fargo & Company lowered their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note 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 on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group lowered their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.25.

Grocery Outlet Price Performance

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 business’s 50 day simple moving average is $15.47 and its 200-day simple moving average is $16.71. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.

Institutional Trading of Grocery Outlet

Institutional investors have recently modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet in the 4th quarter worth $31,000. Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the 3rd quarter worth about $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Grocery Outlet during the 4th quarter worth about $41,000. Quadrant Capital Group LLC lifted its stake in Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after buying an additional 2,036 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. 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.