Wedbush Securities Inc. raised its stake in shares of GrubHub Inc (NYSE:GRUB) by 116.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,389 shares of the information services provider’s stock after buying an additional 2,358 shares during the quarter. Wedbush Securities Inc.’s holdings in GrubHub were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of GrubHub by 199.1% in the second quarter. Bank of Montreal Can now owns 15,141 shares of the information services provider’s stock valued at $1,588,000 after purchasing an additional 10,079 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of GrubHub in the second quarter valued at about $826,000. Aperio Group LLC grew its position in shares of GrubHub by 17.3% in the second quarter. Aperio Group LLC now owns 14,403 shares of the information services provider’s stock valued at $1,511,000 after purchasing an additional 2,121 shares during the last quarter. Alps Advisors Inc. grew its position in shares of GrubHub by 90.8% in the second quarter. Alps Advisors Inc. now owns 8,395 shares of the information services provider’s stock valued at $603,000 after purchasing an additional 3,995 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of GrubHub in the second quarter valued at about $2,193,000. 92.49% of the stock is owned by institutional investors and hedge funds.
In other GrubHub news, CFO Adam Dewitt sold 2,250 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $145.68, for a total transaction of $327,780.00. Following the completion of the transaction, the chief financial officer now owns 17,656 shares in the company, valued at $2,572,126.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew M. Maloney sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $143.50, for a total transaction of $448,437.50. Following the transaction, the chief executive officer now owns 8,857 shares of the company’s stock, valued at approximately $1,270,979.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,296 shares of company stock valued at $5,818,514. Corporate insiders own 2.37% of the company’s stock.
GrubHub (NYSE:GRUB) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.14. The firm had revenue of $247.23 million during the quarter, compared to analysts’ expectations of $238.19 million. GrubHub had a net margin of 14.83% and a return on equity of 10.64%. As a group, sell-side analysts anticipate that GrubHub Inc will post 1.29 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on GRUB shares. DA Davidson raised GrubHub from a “neutral” rating to a “buy” rating and raised their price target for the company from $115.00 to $120.00 in a research report on Friday, October 26th. They noted that the move was a valuation call. Stifel Nicolaus raised GrubHub from a “hold” rating to a “buy” rating and lowered their price target for the company from $140.00 to $125.00 in a research report on Friday, October 26th. ValuEngine downgraded GrubHub from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 26th. Craig Hallum raised their price target on GrubHub from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, Argus lifted their target price on GrubHub from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $129.95.
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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.
Further Reading: Buyback
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