GrubHub Inc (GRUB) Trading Up -0.6% After Earnings Beat

GrubHub Inc (NASDAQ:GRUB)’s share price was up 0.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $57.93 and last traded at $57.44. Approximately 1,590,371 shares were traded during trading, a decline of 17% from the average daily volume of 1,924,280 shares. The stock had previously closed at $57.79.

The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $163.10 million for the quarter, compared to the consensus estimate of $159.63 million. GrubHub had a net margin of 9.29% and a return on equity of 5.84%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share.

A number of equities analysts recently issued reports on GRUB shares. Roth Capital raised their price objective on shares of GrubHub from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Wedbush set a $55.00 target price on shares of GrubHub and gave the stock a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus set a $53.00 target price on shares of GrubHub and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $50.00 target price (up previously from $47.00) on shares of GrubHub in a research note on Friday, August 4th. Finally, Credit Suisse Group set a $50.00 target price on shares of GrubHub and gave the stock a “buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. GrubHub currently has a consensus rating of “Buy” and a consensus target price of $57.18.

In related news, CEO Matthew M. Maloney sold 52,656 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $48.02, for a total value of $2,528,541.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Adam Dewitt sold 6,722 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $46.81, for a total transaction of $314,656.82. Following the completion of the sale, the chief financial officer now owns 25,294 shares in the company, valued at approximately $1,184,012.14. The disclosure for this sale can be found here. Insiders sold 454,404 shares of company stock worth $24,273,265 in the last 90 days.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in GrubHub by 11.7% during the second quarter. Bank of New York Mellon Corp now owns 736,610 shares of the information services provider’s stock worth $32,116,000 after buying an additional 77,237 shares during the period. Geneva Advisors LLC purchased a new position in GrubHub during the second quarter worth $622,000. Oppenheimer & Co. Inc. purchased a new position in GrubHub during the first quarter worth $531,000. Delta Lloyd Asset Management N.V. purchased a new position in GrubHub during the second quarter worth $2,126,000. Finally, Tudor Investment Corp ET AL purchased a new position in GrubHub during the first quarter worth $949,000.

The stock has a market capitalization of $5.00 billion and a P/E ratio of 85.060. The company has a 50-day moving average of $53.22 and a 200-day moving average of $47.59.

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GrubHub Company Profile

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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