Senvest Management LLC Decreases Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Senvest Management LLC decreased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 833,725 shares of the company’s stock after selling 60,227 shares during the quarter. Senvest Management LLC owned approximately 0.86% of Grocery Outlet worth $14,632,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GO. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Grocery Outlet in the 3rd quarter valued at $32,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet during the 2nd quarter worth $38,000. Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet during the second quarter worth $82,000. Finally, Nisa Investment Advisors LLC purchased a new position in Grocery Outlet in the third quarter valued at $181,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of GO opened at $19.54 on Friday. The firm has a market capitalization of $1.90 billion, a PE ratio of 38.31, a P/E/G ratio of 4.69 and a beta of 0.13. The stock’s 50 day moving average is $16.82 and its two-hundred day moving average is $19.06. Grocery Outlet Holding Corp. has a twelve month low of $13.60 and a twelve month high of $29.80. 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 (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction on 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 sale, the director now owns 70,938 shares in the company, valued at approximately $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. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GO. Telsey Advisory Group decreased their price target on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Roth Mkm cut their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average 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.