Bryce Point Capital LLC Makes New $448,000 Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bryce Point Capital LLC bought a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,720 shares of the company’s stock, valued at approximately $448,000.

A number of other large investors also recently modified their holdings of the business. Barclays PLC grew its stake in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after buying an additional 277,706 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after acquiring an additional 406,039 shares during the period. Choreo LLC bought a new stake in Grocery Outlet in the 4th quarter valued at about $245,000. Y Intercept Hong Kong Ltd acquired a new position in Grocery Outlet during the 3rd quarter valued at about $511,000. Finally, New York State Common Retirement Fund grew its position in 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 purchasing an additional 49,035 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Performance

GO opened at $13.70 on Friday. 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 cap of $1.33 billion, a PE ratio of 26.86, a P/E/G ratio of 9.08 and a beta of 0.40. The business has a fifty day simple moving average of $14.36 and a 200-day simple moving average of $16.14. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $27.65.

Wall Street Analyst Weigh In

GO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 26th. Bank of America decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.25.

Insider Buying and Selling

In other news, CFO Christopher M. Miller bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the sale, the senior vice president now directly owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by company insiders.

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.