Teacher Retirement System of Texas Reduces Position in GrubHub Inc (GRUB)
Teacher Retirement System of Texas lessened its holdings in GrubHub Inc (NYSE:GRUB) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,638 shares of the information services provider’s stock after selling 594 shares during the quarter. Teacher Retirement System of Texas’ holdings in GrubHub were worth $1,850,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dupont Capital Management Corp purchased a new position in shares of GrubHub during the first quarter worth $990,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of GrubHub by 233.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,872 shares of the information services provider’s stock worth $3,843,000 after buying an additional 26,506 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of GrubHub by 264.2% during the first quarter. Oppenheimer & Co. Inc. now owns 35,403 shares of the information services provider’s stock worth $3,592,000 after buying an additional 25,681 shares during the period. Price Capital Management Inc. purchased a new position in shares of GrubHub during the first quarter worth $4,508,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of GrubHub during the first quarter worth $822,000.
In other GrubHub news, SVP Margo Drucker sold 1,642 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $108.72, for a total value of $178,518.24. Following the sale, the senior vice president now directly owns 892 shares in the company, valued at $96,978.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stanley Chia sold 3,528 shares of the firm’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $108.70, for a total value of $383,493.60. Following the completion of the sale, the chief operating officer now owns 2,195 shares in the company, valued at $238,596.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,821 shares of company stock worth $11,832,184. 2.37% of the stock is owned by insiders.
GrubHub (NYSE:GRUB) last announced its quarterly earnings data on Wednesday, July 25th. The information services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.19. The business had revenue of $239.70 million for the quarter, compared to analysts’ expectations of $233.05 million. GrubHub had a return on equity of 10.52% and a net margin of 15.16%. The company’s revenue for the quarter was up 50.9% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. analysts anticipate that GrubHub Inc will post 1.5 earnings per share for the current year.
Several research analysts have recently commented on GRUB shares. ValuEngine upgraded GrubHub from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered GrubHub from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Barclays raised their price target on GrubHub from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 2nd. Wells Fargo & Co restated a “hold” rating and set a $90.00 price target on shares of GrubHub in a research report on Wednesday, May 2nd. Finally, Craig Hallum raised their price target on GrubHub from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. GrubHub presently has an average rating of “Hold” and a consensus price target of $121.14.
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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