Verition Fund Management LLC Reduces Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Verition Fund Management LLC decreased its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 78.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,314 shares of the company's stock after selling 49,893 shares during the quarter. Verition Fund Management LLC's holdings in Grocery Outlet were worth $234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GO. Captrust Financial Advisors acquired a new position in shares of Grocery Outlet during the 3rd quarter worth about $391,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Grocery Outlet by 1.4% during 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 in the last quarter. Blueshift Asset Management LLC purchased a new position in Grocery Outlet during the third quarter worth approximately $227,000. BNP Paribas Financial Markets increased its stake 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 worth $2,904,000 after acquiring an additional 20,914 shares during the last quarter. Finally, Bank of Hawaii purchased a new position in shares of Grocery Outlet during the 3rd quarter worth $370,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Stock Down 8.9 %

Grocery Outlet stock traded down $1.71 during mid-day trading on Monday, hitting $17.40. The company had a trading volume of 1,905,785 shares, compared to its average volume of 1,836,069. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 4.74 and a beta of 0.25. 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 Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.19. The business has a fifty day moving average of $17.80 and a 200 day moving average of $18.85.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $0.25 EPS. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GO shares. TD Cowen downgraded Grocery Outlet from a "buy" rating to a "hold" rating and reduced their target price for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. UBS Group reduced their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Roth Mkm lowered 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 note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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, 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 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.00.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction on Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

Grocery Outlet 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.