Advantage Alpha Capital Partners LP Reduces Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Advantage Alpha Capital Partners LP cut its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 51.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,212 shares of the company's stock after selling 196,422 shares during the period. Advantage Alpha Capital Partners LP owned about 0.19% of Grocery Outlet worth $3,215,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after buying an additional 722 shares during the period. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the second quarter worth $38,000. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet in the third quarter worth $32,000. Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet in the second quarter valued at $82,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $217,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Up 1.3 %

GO stock traded up $0.28 during trading on Tuesday, reaching $21.16. 1,911,002 shares of the stock were exchanged, compared to its average volume of 1,861,010. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a twelve month low of $13.60 and a twelve month high of $29.80. The firm's 50 day moving average is $16.90 and its 200 day moving average is $19.05. The firm has a market cap of $2.06 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 4.92 and a beta of 0.13.

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

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company's stock, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik D. Ragatz bought 110,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Telsey Advisory Group reduced their target price on Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating for the company in a research report on Friday, November 1st. Melius Research started coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They issued a "hold" rating and a $17.00 target price on the stock. TD Cowen downgraded Grocery Outlet from a "buy" rating to a "hold" rating and decreased their price target for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price objective on Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and a consensus target price of $18.00.

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.