Insider Selling: Herman Thomas F, Grocery Outlet Holding Corp. [GO] Director divested 2,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Grocery Outlet Holding Corp. shares valued at $72,185 were sold by Herman Thomas F on Sep 15. At $36.09 per share, Herman Thomas F sold 2,000 shares. The insider’s holdings dropped to 37,917 shares worth approximately $1.34 million following the completion of this transaction.


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Also, Lindberg Eric J. Jr. sold 25,000 shares, netting a total of over 957,758 in proceeds. Following the sale of shares at $38.31 each, the insider now holds 60,560 shares.

Before that, York Jeffrey had sold 50,000 shares from its account. In a trade valued at $1,886,700, the Director traded Grocery Outlet Holding Corp. shares for $37.73 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $2.38 million.

As published in a research note from Morgan Stanley on August 23, 2022, Grocery Outlet Holding Corp. [GO] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $33 from $29. This represents a -6.94% premium over Wednesday’s closing price. Analysts at DA Davidson downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of May 11, 2022, Deutsche Bank has increased its “Hold” rating to a “Buy” for GO. Earlier on May 11, 2022, Craig Hallum upgraded its rating. Their new recommendation was “a Buy” for GO stock which previously was a “a Hold”.

Analyzing GO’s Price Performance

On Wednesday, Grocery Outlet Holding Corp. [NASDAQ: GO] rose 1.15% to $35.29. The stock’s lowest price that day was $34.76, but it reached a high of $35.83 in the same session. During the last five days, there has been a drop of approximately -3.53%. Over the course of the year, Grocery Outlet Holding Corp. shares have jumped approximately 24.79%. Shares of the company reached a 52-week high of $46.37 on 08/08/22 and a 52-week low of $23.69 on 01/28/22. A 50-day SMA is recorded $41.15, while a 200-day SMA reached $34.47. Nevertheless, trading volume fell to 1.12 million shares from 1.09 million shares the previous day.

Support And Resistance Levels for Grocery Outlet Holding Corp. (GO)

According to the 24-hour chart, there is a support level at 34.76, which, if violated, would cause prices to drop to 34.22. In the upper region, resistance lies at 35.83. The next price resistance is at 36.36. RSI (Relative Strength Index) is 28.24 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.22, which suggests the price will decrease in the coming days. Percent R is at 86.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Grocery Outlet Holding Corp. subject to short interest?

Stocks of Grocery Outlet Holding Corp. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.62 million shares to 7.49 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.11 million shares. A decline of -8.28% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.21 of the overall float, the days-to-cover ratio (short ratio) decline to 6.21.

Which companies own the most shares of Grocery Outlet Holding Corp. (GO)?

According to The Vanguard Group, Inc. filings, the company currently owns 8,547,842 shares, which is about 8.82% of the total GO shares outstanding. The investor’s shares have appreciated by 162,057 from its previous 13-F filing of 8385785.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $298,560,001. BlackRock Fund Advisors acquire a 1.77% interest valued at $271.23 million while Jackson Square Partners LLC sold a -5,545,201 stake. A total of -639,727 shares of Grocery Outlet Holding Corp. were sold by Parnassus Investments LLC during the quarter, and -661,796 were sold by Mackenzie Financial Corp. In its current portfolio, Fidelity Management & Research Co holds 3,322,131 shares valued at $133.28 million.

In terms of Grocery Outlet Holding Corp. share price expectations, FactSet research, analysts set an average price target of $45.42 in the next 12 months, up nearly 37.58% from the previous closing price of $34.89. Analysts anticipate Grocery Outlet Holding Corp. stock to reach $53.00 by 2022, with the lowest price target being $31.00. In spite of this, 12 analysts ranked Grocery Outlet Holding Corp. stock as an Overweight at the end of 2022. On April 29, 2022, BofA Securities assigned a price target of “a Buy” to the stock and upgraded coverage with a $37.

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