Headlands Technologies LLC Acquires 27,251 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Headlands Technologies LLC lifted its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 998.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,981 shares of the company's stock after acquiring an additional 27,251 shares during the quarter. Headlands Technologies LLC's holdings in Grocery Outlet were worth $468,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Erik D. Ragatz acquired 165,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the acquisition, the director now directly owns 201,500 shares of the company's stock, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven K. Wilson sold 6,682 shares of Grocery Outlet stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GO shares. Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. Telsey Advisory Group reduced their price objective 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. Finally, Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.25.

Grocery Outlet Price Performance

Shares of GO traded up $0.38 during mid-day trading on Wednesday, reaching $13.86. The company had a trading volume of 3,329,834 shares, compared to its average volume of 2,191,613. The company's 50 day simple moving average is $14.07 and its 200 day simple moving average is $16.05. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $27.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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.