Senvest Management LLC Trims Stake 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% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 833,725 shares of the company’s stock after selling 60,227 shares during the quarter. Senvest Management LLC’s holdings in Grocery Outlet were worth $14,632,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GO. Cerity Partners LLC grew its holdings in shares of Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after buying an additional 94,969 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Grocery Outlet by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock worth $20,542,000 after acquiring an additional 147,312 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $2,581,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Grocery Outlet in the 3rd quarter valued at $441,000. Finally, Quest Partners LLC purchased a new position in shares of Grocery Outlet during the 3rd quarter worth $266,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

GO has been the subject of a number of recent analyst reports. Craig Hallum lowered their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Loop Capital initiated coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group dropped their price target on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Price Performance

GO opened at $19.54 on Friday. The company has a 50 day moving average of $16.82 and a two-hundred day moving average of $19.06. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80. 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 company has a market cap of $1.90 billion, a P/E ratio of 38.31, a P/E/G ratio of 4.69 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping 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 firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. On average, analysts expect 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.