Bryce Point Capital LLC Purchases New Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bryce Point Capital LLC acquired a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,720 shares of the company's stock, valued at approximately $448,000.

A number of other hedge funds have also modified their holdings of GO. Charles Schwab Investment Management Inc. grew its holdings in shares of Grocery Outlet by 14.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company's stock worth $20,542,000 after purchasing an additional 147,312 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Grocery Outlet by 14.5% during the third quarter. BNP Paribas Financial Markets now owns 165,480 shares of the company's stock valued at $2,904,000 after buying an additional 20,914 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Grocery Outlet by 1.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,036 shares of the company's stock valued at $5,090,000 after acquiring an additional 4,107 shares during the last quarter. Captrust Financial Advisors purchased a new position in Grocery Outlet during the third quarter valued at approximately $391,000. Finally, Paloma Partners Management Co acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at $272,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Price Performance

NASDAQ GO traded up $0.42 on Thursday, hitting $14.28. 932,594 shares of the company's stock were exchanged, compared to its average volume of 2,187,119. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 9.08 and a beta of 0.40. 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 50-day moving average of $14.07 and a 200-day moving average of $16.05. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $27.65.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, CFO Christopher M. Miller acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GO shares. Bank of America reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group lowered their price target on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of 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, The Goldman Sachs Group decreased their target price 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. Two equities 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 stock. According to MarketBeat, Grocery Outlet currently has an average rating of "Hold" and a consensus price target of $15.25.

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.