Grubhub Shares Rise As Quarterly Results, Outlook Beat Estimates

Lloyd Doyle
October 26, 2017

GrubHub Inc (NASDAQ:GRUB) has been given a $62.00 target price by equities researchers at KeyCorp in a note issued to investors on Sunday, October 15th. The brokerage presently has a "buy" rating on the information services provider's stock. Advisor Group Inc.'s holdings in GrubHub were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Here are a few institutional investors who have updated their positions.

Today we are spotlighting shares of GrubHub Inc.

Facebook launched a service earlier this month that would allow users to order food from restaurants such as Papa John's and delivery services such as GrubHub and Amazon-partner Olo.

Luxor Capital Group Lp decreased Powershares Qqq Trust (QQQ) stake by 676,008 shares to 1.36M valued at $186.91 million in 2017Q2. T. Rowe Price Associates, the second biggest holder with 9 million shares now valued at 370.83 million whilst Baillie Gifford & Co Limited. has 8 million shares valued at 365.61 million. RWC Asset Management LLP increased its position in GrubHub by 2.9% in the third quarter.

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In related news, COO Stanley Chia sold 645 shares of the business's stock in a transaction that occurred on Tuesday, October 3rd. You can do this by looking for the average analyst rating on the company's stock. The biggest holder now is J. William Gurley who owns 137,648 shares (0.16% of those outstanding), whilst Mr. Lloyd D. Frink holds 77,555 (0.09% of shares outstanding) and Mr. Jonathan Zabusky holds 53,255 (0.06% of shares outstanding). The shares were sold at an average price of $57.09, for a total transaction of $131,763.72. Following the sale, the chief technology officer now directly owns 857 shares in the company, valued at $48,926.13. The disclosure for this sale can be found here. Its share price has risen 12.78% in three months and is up 0.59% for the last five trades. The stock of GrubHub Inc (NYSE:GRUB) has "Buy" rating given on Wednesday, June 22 by Mizuho. The total amount of shares outstanding is 85.45 million, giving the company a market capitalization of about 4.47 billion. The firm has a 50-day moving average of $53.17 and a 200-day moving average of $47.52. GrubHub Inc has a one year low of $32.43 and a one year high of $57.61.

GrubHub (NASDAQ:GRUB) last issued its quarterly earnings data on Thursday, August 3rd.

GrubHub, which now has a restaurant base of almost 75,000, said it expects revenue of $197 million to $205 million for the current quarter ending December, above analysts' estimate of $183.8 million.

While the partnerships are still work-in-progress, GrubHub had 9.81 million active diners in the third quarter ended September 30, up almost 28 percent from a year earlier. The business had revenue of $158.79 million for the quarter, compared to analysts' expectations of $158.13 million.

GRUB has been the subject of several other reports. Finally, Zacks Investment Research lowered GrubHub from a "hold" rating to a "sell" rating in a report on Wednesday, October 4th.

One of the company's main competitors is Uber, which has had a successful partnership with various restaurant chains through its UberEats initiative. DA Davidson assumed coverage on GrubHub in a report on Wednesday, September 13th. Bernstein maintained the stock with "Outperform" rating in Monday, November 2 report. Grubhub Inc had 87 analyst reports since July 27, 2015 according to SRatingsIntel.

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