Viking Global Investors LP Invests $98.98 Million in GrubHub Inc (NYSE:GRUB)

Viking Global Investors LP bought a new position in GrubHub Inc (NYSE:GRUB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,269,186 shares of the information services provider’s stock, valued at approximately $98,984,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Elkfork Partners LLC acquired a new stake in GrubHub during the 2nd quarter valued at $26,000. Meadow Creek Investment Management LLC acquired a new stake in GrubHub during the 2nd quarter valued at $33,000. YorkBridge Wealth Partners LLC acquired a new stake in GrubHub during the 1st quarter valued at $35,000. Glen Harbor Capital Management LLC acquired a new stake in GrubHub during the 2nd quarter valued at $40,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in GrubHub during the 2nd quarter valued at $41,000.

In other news, CFO Adam Dewitt sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $75.45, for a total value of $150,900.00. Following the transaction, the chief financial officer now directly owns 44,044 shares in the company, valued at approximately $3,323,119.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel Pike Hall sold 704 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $75.45, for a total value of $53,116.80. Following the completion of the transaction, the insider now owns 1,175 shares in the company, valued at $88,653.75. The disclosure for this sale can be found here. Insiders sold a total of 27,615 shares of company stock worth $2,002,617 over the last quarter. Corporate insiders own 1.88% of the company’s stock.



GRUB traded down $0.80 during mid-day trading on Wednesday, reaching $63.67. The stock had a trading volume of 41,664 shares, compared to its average volume of 1,575,866. The stock has a market capitalization of $5.89 billion, a P/E ratio of 51.50, a P/E/G ratio of 3.82 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.42 and a current ratio of 2.42. The firm’s fifty day simple moving average is $63.29 and its two-hundred day simple moving average is $68.74. GrubHub Inc has a 52 week low of $55.61 and a 52 week high of $144.79.

GrubHub (NYSE:GRUB) last announced its quarterly earnings data on Tuesday, July 30th. The information services provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. The firm had revenue of $325.06 million for the quarter, compared to analyst estimates of $317.39 million. GrubHub had a return on equity of 4.25% and a net margin of 2.17%. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. As a group, analysts expect that GrubHub Inc will post 0.69 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the company. JMP Securities dropped their price target on GrubHub to $95.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. ValuEngine raised GrubHub from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. BNP Paribas assumed coverage on GrubHub in a report on Friday, June 7th. They set an “outperform” rating and a $84.00 price target for the company. Morgan Stanley dropped their price target on GrubHub from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, Citigroup raised GrubHub from a “neutral” rating to a “buy” rating and raised their price target for the company from $75.00 to $91.00 in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. GrubHub currently has a consensus rating of “Buy” and an average target price of $95.45.

About GrubHub

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 105,000 local restaurants with diners with diners in various cities. It offers Grubhub, Seamless, and Eat24 mobile applications and mobile Websites; and operates Websites through grubhub.com, seamless.com, eat24.com, and menupages.com.

Further Reading: Overbought

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Institutional Ownership by Quarter for GrubHub (NYSE:GRUB)

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