Nationwide Fund Advisors boosted its stake in GrubHub Inc (NASDAQ:GRUB) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor owned 52,971 shares of the company’s stock after buying an additional 4,213 shares during the period. Nationwide Fund Advisors owned about 0.06% of GrubHub worth $1,646,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the company. Societe Generale bought a new stake in shares of GrubHub during the second quarter valued at $113,000. SG Americas Securities LLC bought a new stake in shares of GrubHub during the second quarter valued at $113,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of GrubHub by 6.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,323 shares of the company’s stock valued at $134,000 after buying an additional 269 shares during the last quarter. BlackRock Inc. increased its stake in shares of GrubHub by 133.5% in the first quarter. BlackRock Inc. now owns 4,927 shares of the company’s stock valued at $124,000 after buying an additional 2,817 shares during the last quarter. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of GrubHub during the second quarter valued at $213,000.
Shares of GrubHub Inc (NASDAQ:GRUB) opened at 41.29 on Monday. The stock has a market capitalization of $3.52 billion and a PE ratio of 86.02. The stock has a 50 day moving average price of $41.46 and a 200-day moving average price of $32.38. GrubHub Inc has a 1-year low of $17.77 and a 1-year high of $44.58.
GrubHub (NASDAQ:GRUB) last announced its earnings results on Thursday, July 28th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. The company earned $120.20 million during the quarter, compared to analysts’ expectations of $114.13 million. GrubHub’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts forecast that GrubHub Inc will post $0.84 earnings per share for the current year.
GRUB has been the subject of several recent research reports. Bank of America Corp. upgraded GrubHub from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Thursday. Stifel Nicolaus downgraded GrubHub from a “buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a research report on Tuesday, October 4th. Roth Capital initiated coverage on GrubHub in a research report on Monday, October 10th. They issued a “neutral” rating and a $44.00 price objective for the company. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price objective (up previously from $34.00) on shares of GrubHub in a research report on Sunday, July 31st. Finally, Maxim Group downgraded GrubHub from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.13.
In other GrubHub news, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction on Monday, August 8th. The stock was sold at an average price of $39.14, for a total transaction of $195,700.00. Following the completion of the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $215,270. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stanley Chia sold 5,838 shares of GrubHub stock in a transaction on Friday, August 26th. The shares were sold at an average price of $38.81, for a total value of $226,572.78. The disclosure for this sale can be found here.
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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