Versor Investments LP Takes $634,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Versor Investments LP acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 36,124 shares of the company's stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GO. Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet in the first quarter valued at about $25,000. Blue Trust Inc. lifted its holdings in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after buying an additional 722 shares during the period. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Capital Performance Advisors LLP acquired a new position in Grocery Outlet during the third quarter worth $32,000. Finally, Canada Pension Plan Investment Board purchased a new position in Grocery Outlet in the second quarter worth $82,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Stock Down 5.2 %

Shares of GO traded down $1.00 during midday trading on Thursday, reaching $18.11. 2,299,385 shares of the stock were exchanged, compared to its average volume of 1,848,125. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 4.76 and a beta of 0.13. The firm has a 50 day simple moving average of $16.59 and a 200-day simple moving average of $19.42. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.98. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

GO has been the subject of several research reports. Bank of America downgraded Grocery Outlet from a "buy" rating to a "neutral" rating and cut their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Grocery Outlet from $29.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.00.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 58.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 500,095 shares of company stock worth $8,876,548 in the last ninety days. Insiders own 4.50% 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.