Y Intercept Hong Kong Ltd Makes New $511,000 Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Y Intercept Hong Kong Ltd purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,097 shares of the company's stock, valued at approximately $511,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in Grocery Outlet by 48.0% in the 2nd quarter. Raymond James & Associates now owns 82,730 shares of the company's stock valued at $1,830,000 after purchasing an additional 26,828 shares during the period. Louisiana State Employees Retirement System raised its stake in Grocery Outlet by 75.5% in the second quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company's stock worth $1,110,000 after buying an additional 21,600 shares in the last quarter. Patten Group Inc. purchased a new position in Grocery Outlet during the second quarter valued at $548,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Grocery Outlet by 21.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company's stock worth $376,000 after purchasing an additional 3,050 shares during the period. Finally, Innealta Capital LLC bought a new position in Grocery Outlet during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Insider Activity at Grocery Outlet

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GO shares. 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 note on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Roth Mkm cut their price target on Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Melius Research began coverage on Grocery Outlet in a research report on Monday, September 23rd. They set a "hold" rating and a $17.00 price target on the stock. Finally, Loop Capital assumed coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a "hold" rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet currently has a consensus rating of "Hold" and a consensus price target of $18.00.

Grocery Outlet Price Performance

Shares of NASDAQ GO traded down $1.71 during midday 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 company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The business has a 50-day simple moving average of $17.82 and a two-hundred day simple moving average of $18.82. Grocery Outlet Holding Corp. has a twelve month low of $13.60 and a twelve month high of $29.19.

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

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.