Connor Clark & Lunn Investment Management Ltd. Grows Position in GrubHub Inc (GRUB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in GrubHub Inc (NYSE:GRUB) by 83.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,325 shares of the information services provider’s stock after acquiring an additional 17,425 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GrubHub were worth $5,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in shares of GrubHub by 287.6% in the 3rd quarter. Advisory Services Network LLC now owns 969 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 719 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of GrubHub in the 3rd quarter valued at $146,000. Massey Quick Simon & CO. LLC acquired a new position in shares of GrubHub in the 2nd quarter valued at $147,000. OLD National Bancorp IN acquired a new position in shares of GrubHub in the 3rd quarter valued at $203,000. Finally, IBM Retirement Fund acquired a new position in shares of GrubHub in the 3rd quarter valued at $203,000. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CTO Maria Belousova sold 2,752 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $92.25, for a total transaction of $253,872.00. Following the sale, the chief technology officer now directly owns 857 shares in the company, valued at approximately $79,058.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Margo Drucker sold 1,666 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $115.65, for a total value of $192,672.90. Following the sale, the senior vice president now owns 1,766 shares in the company, valued at $204,237.90. The disclosure for this sale can be found here. Insiders have sold a total of 58,623 shares of company stock worth $7,767,907 over the last 90 days. Insiders own 1.59% of the company’s stock.

NYSE:GRUB opened at $78.29 on Monday. GrubHub Inc has a 52 week low of $65.14 and a 52 week high of $149.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $7.10 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.57.

GrubHub (NYSE:GRUB) last posted its earnings results on Thursday, October 25th. The information services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.14. GrubHub had a return on equity of 10.64% and a net margin of 14.83%. The firm had revenue of $247.23 million for the quarter, compared to analysts’ expectations of $238.19 million. As a group, analysts expect that GrubHub Inc will post 1.29 EPS for the current fiscal year.

Several equities analysts recently issued reports on the company. Zacks Investment Research reissued a “hold” rating on shares of GrubHub in a research report on Tuesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of GrubHub in a research report on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 price target (down from $108.00) on shares of GrubHub in a research report on Tuesday, November 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $152.00 price target on shares of GrubHub in a research report on Friday, August 10th. Finally, Craig Hallum increased their price target on GrubHub from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $129.95.

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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 80,000 local restaurants with diners in approximately 1,600 cities. It offers Grubhub, Seamless, and Eat24 mobile applications and mobile Websites for iPhone, Android, iPad, Apple Watch, and Apple TV devices; and operates Grubhub, Seamless, and Eat24 Websites through grubhub.com, seamless.com, and eat24.com.

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Institutional Ownership by Quarter for GrubHub (NYSE:GRUB)

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