Arrow Financial Corp Increases Stake in GrubHub Inc (NASDAQ:GRUB)

Arrow Financial Corp raised its position in shares of GrubHub Inc (NASDAQ:GRUB) by 105.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 30,800 shares of the information services provider’s stock after buying an additional 15,800 shares during the period. Arrow Financial Corp’s holdings in GrubHub were worth $1,343,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Caledonia Private Investments Pty Ltd boosted its stake in GrubHub by 14.0% in the first quarter. Caledonia Private Investments Pty Ltd now owns 9,582,509 shares of the information services provider’s stock worth $315,169,000 after buying an additional 1,174,124 shares during the period. Baillie Gifford & Co. boosted its stake in GrubHub by 1.4% in the first quarter. Baillie Gifford & Co. now owns 8,242,999 shares of the information services provider’s stock worth $271,112,000 after buying an additional 112,260 shares during the period. Vanguard Group Inc. boosted its stake in GrubHub by 4.3% in the first quarter. Vanguard Group Inc. now owns 6,748,946 shares of the information services provider’s stock worth $221,973,000 after buying an additional 281,024 shares during the period. BlackRock Inc. boosted its stake in GrubHub by 75,703.7% in the first quarter. BlackRock Inc. now owns 5,080,365 shares of the information services provider’s stock worth $167,094,000 after buying an additional 5,073,663 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in GrubHub by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 3,095,577 shares of the information services provider’s stock worth $101,814,000 after buying an additional 387,276 shares during the period.

GrubHub Inc (GRUB) traded up 0.58% during trading on Friday, reaching $53.87. 1,087,868 shares of the company’s stock traded hands. GrubHub Inc has a 12 month low of $32.43 and a 12 month high of $57.26. The company has a market cap of $4.65 billion and a P/E ratio of 79.22. The firm’s 50 day moving average is $48.28 and its 200 day moving average is $41.49.

GrubHub (NASDAQ:GRUB) last posted its earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $158.79 million for the quarter, compared to analyst estimates of $158.13 million. GrubHub had a net margin of 9.29% and a return on equity of 5.84%. Analysts anticipate that GrubHub Inc will post $1.10 EPS for the current year.

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A number of equities research analysts have recently weighed in on GRUB shares. Stifel Nicolaus set a $53.00 price target on GrubHub and gave the company a “buy” rating in a report on Thursday, August 3rd. Wedbush set a $55.00 price target on GrubHub and gave the company a “buy” rating in a report on Friday, August 4th. Cowen and Company reaffirmed an “outperform” rating and set a $54.00 price target on shares of GrubHub in a report on Wednesday, August 9th. Barclays PLC reaffirmed a “hold” rating and set a $45.00 price target on shares of GrubHub in a report on Monday, May 1st. Finally, BidaskClub raised GrubHub from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $48.87.

In other news, CFO Adam Dewitt sold 5,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $54.57, for a total transaction of $272,850.00. Following the completion of the sale, the chief financial officer now owns 22,854 shares of the company’s stock, valued at $1,247,142.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew M. Maloney sold 6,250 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $44.57, for a total transaction of $278,562.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,592 shares of company stock worth $14,500,728.

About GrubHub

Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.

Institutional Ownership by Quarter for GrubHub (NASDAQ:GRUB)

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