GrubHub (GRUB) Stock Price Down 6% Following Insider Selling
GrubHub Inc (NYSE:GRUB) shares traded down 6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $77.16 and last traded at $77.76. 2,886,977 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 2,410,990 shares. The stock had previously closed at $82.74.
Specifically, CFO Adam Dewitt sold 4,000 shares of GrubHub stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $138.90, for a total transaction of $555,600.00. Following the completion of the transaction, the chief financial officer now owns 18,476 shares in the company, valued at approximately $2,566,316.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Margo Drucker sold 1,666 shares of GrubHub stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $136.82, for a total value of $227,942.12. Following the transaction, the senior vice president now owns 1,766 shares of the company’s stock, valued at approximately $241,624.12. The disclosure for this sale can be found here. Insiders have sold a total of 46,296 shares of company stock valued at $5,818,514 in the last quarter. Company insiders own 2.37% of the company’s stock.
A number of equities analysts have weighed in on the company. Roth Capital reduced their price objective on GrubHub from $130.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Canaccord Genuity set a $140.00 price objective on GrubHub and gave the company a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research reiterated a “hold” rating on shares of GrubHub in a research note on Tuesday, November 13th. Craig Hallum lifted their price objective on GrubHub from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, TheStreet lowered GrubHub from a “b” rating to a “c+” rating in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. GrubHub currently has an average rating of “Buy” and a consensus target price of $129.95.
GrubHub (NYSE:GRUB) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.14. GrubHub had a return on equity of 10.64% and a net margin of 14.83%. The firm had revenue of $247.23 million during the quarter, compared to analyst estimates of $238.19 million. As a group, analysts forecast that GrubHub Inc will post 1.29 earnings per share for the current year.
Large investors have recently bought and sold shares of the business. Advisory Services Network LLC increased its stake in GrubHub by 287.6% during the 3rd quarter. Advisory Services Network LLC now owns 969 shares of the information services provider’s stock worth $134,000 after buying an additional 719 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in GrubHub during the 3rd quarter worth approximately $146,000. Massey Quick Simon & CO. LLC purchased a new stake in GrubHub during the 2nd quarter worth approximately $147,000. Wakefield Asset Management LLLP purchased a new stake in GrubHub during the 3rd quarter worth approximately $172,000. Finally, OLD National Bancorp IN purchased a new stake in GrubHub during the 3rd quarter worth approximately $203,000. Institutional investors own 92.49% of the company’s stock.
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GrubHub Company Profile (NYSE:GRUB)
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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