Point72 Asset Management L.P. increased its holdings in GrubHub Inc (NYSE:GRUB) by 111.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,400 shares of the information services provider’s stock after buying an additional 83,400 shares during the quarter. Point72 Asset Management L.P.’s holdings in GrubHub were worth $881,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lansdowne Partners UK LLP lifted its position in shares of GrubHub by 218.8% during the 2nd quarter. Lansdowne Partners UK LLP now owns 2,034,672 shares of the information services provider’s stock valued at $213,454,000 after acquiring an additional 1,396,482 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of GrubHub by 7.4% in the second quarter. Baillie Gifford & Co. now owns 9,304,281 shares of the information services provider’s stock valued at $976,111,000 after purchasing an additional 638,210 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of GrubHub by 5,752.3% in the second quarter. SG Americas Securities LLC now owns 428,913 shares of the information services provider’s stock valued at $44,997,000 after purchasing an additional 421,584 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of GrubHub in the second quarter valued at $32,346,000. Finally, BlackRock Inc. lifted its holdings in shares of GrubHub by 4.7% in the first quarter. BlackRock Inc. now owns 5,737,439 shares of the information services provider’s stock valued at $582,177,000 after purchasing an additional 260,107 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on GRUB. Cowen restated a “buy” rating and issued a $149.00 target price on shares of GrubHub in a report on Thursday, July 26th. Credit Suisse Group increased their target price on GrubHub from $99.00 to $121.00 and gave the company a “neutral” rating in a report on Thursday, July 26th. Roth Capital increased their target price on GrubHub from $100.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, July 26th. Stifel Nicolaus increased their price objective on GrubHub from $110.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded GrubHub from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $137.00.
GrubHub (NYSE:GRUB) last released its earnings results on Wednesday, July 25th. The information services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. GrubHub had a return on equity of 10.52% and a net margin of 15.16%. The business had revenue of $239.70 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period last year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 50.9% compared to the same quarter last year. On average, sell-side analysts predict that GrubHub Inc will post 1.5 earnings per share for the current year.
In other GrubHub news, insider Maria Belousova sold 3,368 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $143.85, for a total transaction of $484,486.80. Following the completion of the transaction, the insider now owns 857 shares in the company, valued at $123,279.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Margo Drucker sold 1,239 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $138.90, for a total transaction of $172,097.10. Following the transaction, the senior vice president now owns 891 shares of the company’s stock, valued at approximately $123,759.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,496 shares of company stock worth $13,701,957. 1.59% of the stock is owned by company insiders.
GrubHub Company Profile
GrubHub Inc, together with its subsidiaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects approximately 80,000 local restaurants with diners in approximately 1,600 cities. It offers Grubhub, Seamless, and Eat24 mobile applications and mobile Websites for iPhone, Android, iPad, Apple Watch, and Apple TV devices; and operates Grubhub, Seamless, and Eat24 Websites through grubhub.com, seamless.com, and eat24.com.
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