Kenneth W. Alterman Purchases 25,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Kenneth W. Alterman purchased 25,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $11.88 per share, for a total transaction of $297,000.00. Following the acquisition, the director now owns 64,592 shares of the company’s stock, valued at approximately $767,352.96. The trade was a 63.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Grocery Outlet Price Performance

NASDAQ:GO traded down $0.54 during mid-day trading on Monday, hitting $11.33. 2,986,183 shares of the company’s stock traded hands, compared to its average volume of 1,958,553. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $29.13. The company has a market cap of $1.10 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm’s 50 day simple moving average is $15.95 and its 200 day simple moving average is $17.02.

Wall Street Analyst Weigh In

GO has been the topic of several analyst reports. Craig Hallum lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. UBS Group cut their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price objective on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GO. Blue Trust Inc. grew its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet in the fourth quarter valued at $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Grocery Outlet during the third quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new stake in Grocery Outlet during the 4th quarter worth about $41,000. Finally, Quadrant Capital Group LLC raised its stake in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after purchasing an additional 2,036 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.