Qube Research & Technologies Ltd Invests $1.12 Million in Grocery Outlet Holding Corp. (NYSE:GO)

Qube Research & Technologies Ltd acquired a new position in shares of Grocery Outlet Holding Corp. (NYSE:GO) in the 2nd quarter, Holdings Channel reports. The fund acquired 33,967 shares of the company’s stock, valued at approximately $1,117,000.

Several other hedge funds and other institutional investors have also modified their holdings of GO. SG Americas Securities LLC purchased a new position in shares of Grocery Outlet during the second quarter worth about $1,046,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Grocery Outlet during the second quarter worth about $730,000. Janus Henderson Group PLC purchased a new position in shares of Grocery Outlet during the second quarter worth about $486,000. Columbus Circle Investors purchased a new position in shares of Grocery Outlet during the second quarter worth about $417,000. Finally, Emerald Advisers LLC purchased a new position in shares of Grocery Outlet during the second quarter worth about $256,000.

NYSE GO traded down $1.64 during trading on Monday, reaching $45.00. 8,544 shares of the company’s stock were exchanged, compared to its average volume of 641,992. The stock has a 50 day simple moving average of $36.39. Grocery Outlet Holding Corp. has a 1 year low of $27.75 and a 1 year high of $47.30.

Grocery Outlet (NYSE:GO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million for the quarter, compared to analysts’ expectations of $626.60 million. Grocery Outlet’s revenue for the quarter was up 12.2% on a year-over-year basis.

Several brokerages have recently commented on GO. Goldman Sachs Group began coverage on Grocery Outlet in a report on Monday, July 15th. They set a “neutral” rating and a $32.00 price objective for the company. Deutsche Bank boosted their price objective on Grocery Outlet from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Guggenheim began coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating for the company. Barclays reissued a “hold” rating and set a $37.00 target price on shares of Grocery Outlet in a research note on Thursday. Finally, Bank of America upped their target price on Grocery Outlet from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.00.

In other news, SVP Steven K. Wilson acquired 20,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was bought at an average cost of $22.00 per share, with a total value of $440,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles Bracher acquired 2,610 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $22.00 per share, with a total value of $57,420.00. The disclosure for this purchase can be found here. Insiders acquired a total of 58,530 shares of company stock valued at $1,287,660 over the last quarter.

Grocery Outlet Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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Institutional Ownership by Quarter for Grocery Outlet (NYSE:GO)

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