GrubHub Inc (NASDAQ:GRUB) Announces Quarterly Earnings Results
GrubHub Inc (NASDAQ:GRUB) released its quarterly earnings data on Thursday. The information services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01, Morningstar.com reports. The company had revenue of $158.79 million for the quarter, compared to the consensus estimate of $158.13 million. GrubHub had a return on equity of 7.21% and a net margin of 11.35%.
Shares of GrubHub (GRUB) traded up 9.06% on Friday, reaching $52.62. The company had a trading volume of 7,443,127 shares. GrubHub has a 12 month low of $32.43 and a 12 month high of $53.36. The firm’s 50 day moving average is $44.99 and its 200 day moving average is $40.28. The firm has a market capitalization of $4.54 billion and a PE ratio of 79.73. GrubHub also was the recipient of some unusual options trading on Thursday. Traders bought 10,474 call options on the stock. This is an increase of approximately 660% compared to the typical daily volume of 1,378 call options.
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In related news, CEO Matthew M. Maloney sold 52,656 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $48.02, for a total value of $2,528,541.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Stanley Chia sold 837 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $43.54, for a total value of $36,442.98. Following the completion of the transaction, the chief operating officer now directly owns 1,215 shares in the company, valued at approximately $52,901.10. The disclosure for this sale can be found here. Insiders sold 260,142 shares of company stock worth $12,033,308 in the last three months.
Institutional investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. acquired a new position in GrubHub during the second quarter valued at approximately $146,000. Chicago Partners Investment Group LLC acquired a new position in GrubHub during the second quarter valued at approximately $154,000. Karp Capital Management Corp acquired a new position in GrubHub during the first quarter valued at approximately $214,000. Global Endowment Management LP raised its position in GrubHub by 9.4% in the first quarter. Global Endowment Management LP now owns 6,520 shares of the information services provider’s stock valued at $215,000 after buying an additional 560 shares during the period. Finally, Juncture Wealth Strategies LLC acquired a new position in GrubHub during the first quarter valued at approximately $234,000.
Several research firms have commented on GRUB. Wedbush set a $55.00 price objective on GrubHub and gave the stock a “buy” rating in a report on Friday. Cowen and Company restated a “hold” rating on shares of GrubHub in a report on Sunday, April 30th. Canaccord Genuity raised their price objective on GrubHub from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company restated a “hold” rating on shares of GrubHub in a report on Friday. Finally, Roth Capital set a $55.00 price objective on GrubHub and gave the stock a “buy” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $48.14.
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.
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