Mariner LLC Sells 1,608 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Mariner LLC reduced its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 6.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 24,293 shares of the company’s stock after selling 1,608 shares during the quarter. Mariner LLC’s holdings in Grocery Outlet were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GO. Barclays PLC lifted its position in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares during the period. Sterling Capital Management LLC lifted its position in shares of Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock worth $91,000 after buying an additional 2,034 shares in the last quarter. Choreo LLC bought a new stake in Grocery Outlet during the fourth quarter worth $245,000. New York State Common Retirement Fund boosted its holdings in shares of Grocery Outlet by 124.7% in the 4th quarter. New York State Common Retirement Fund now owns 88,350 shares of the company’s stock worth $1,379,000 after buying an additional 49,035 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Grocery Outlet in the fourth quarter valued at about $1,079,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 165,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the purchase, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher M. Miller purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Stock Performance

Shares of GO stock opened at $16.48 on Friday. The stock has a fifty day moving average of $13.71 and a 200 day moving average of $15.92. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $26.21. 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 $1.62 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 9.08 and a beta of 0.40.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GO. The Goldman Sachs Group dropped their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, nine 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 company has an average rating of “Hold” and a consensus price target of $15.46.

Grocery Outlet 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.