Semanteon Capital Management LP Invests $434,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Semanteon Capital Management LP purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,701 shares of the company’s stock, valued at approximately $434,000.

Other institutional investors have also recently made changes to their positions in the company. 12 West Capital Management LP lifted its position in Grocery Outlet by 383.3% during the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after buying an additional 2,875,000 shares in the last quarter. Capital World Investors lifted its position in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares in the last quarter. Millennium Management LLC lifted its position in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after buying an additional 1,726,741 shares in the last quarter. Solel Partners LP purchased a new position in Grocery Outlet during the second quarter worth approximately $35,980,000. Finally, American Century Companies Inc. lifted its position in Grocery Outlet by 889.9% during the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock worth $22,359,000 after buying an additional 908,680 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GO shares. Loop Capital started coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. UBS Group dropped their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average price target of $21.60.

Insider Activity

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 500,095 shares of company stock valued at $8,876,548. Insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Up 0.4 %

NASDAQ:GO opened at $16.84 on Tuesday. The stock has a 50-day simple moving average of $17.07 and a 200-day simple moving average of $20.25. The stock has a market cap of $1.65 billion, a P/E ratio of 31.19, a P/E/G ratio of 3.21 and a beta of 0.10. Grocery Outlet Holding Corp. has a 1 year low of $15.18 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current fiscal year.

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.