Grocery Outlet Holding’s Director Erik D. Ragatz has made a significant move by purchasing 125,000 shares at $7.06 each, totaling $882,500, as disclosed in a recent SEC filing. Despite this insider buying, Grocery Outlet’s stock is down approximately 2% on Wednesday. Ragatz has been consistently bullish on GO, having invested a total of $2.21 million over the past year at an average price of $6.44 per share.
In contrast, Citizens’ CEO Jon Stenberg also demonstrated confidence in his company by acquiring 50,000 shares at $4.70 each for a total of $235,000. Citizens’ stock is performing well, up about 2.4% on the same day, with Stenberg’s investment already showing an 11.5% gain at one point during the trading session.
These insider purchases highlight the differing market sentiments surrounding Grocery Outlet and Citizens, offering investors insights into potential stock performance and management confidence.
Source: nasdaq.com