AQR Capital Management LLC Reduces Stock Holdings in GrowGeneration Corp. (NASDAQ:GRWG)

AQR Capital Management LLC reduced its stake in GrowGeneration Corp. (NASDAQ:GRWG) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,337 shares of the company’s stock after selling 45,766 shares during the period. AQR Capital Management LLC owned 0.26% of GrowGeneration worth $338,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in shares of GrowGeneration during the first quarter worth $5,934,000. AWM Investment Company Inc. lifted its holdings in GrowGeneration by 17.8% in the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after acquiring an additional 151,000 shares during the period. Baader Bank Aktiengesellschaft lifted its holdings in GrowGeneration by 44.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after acquiring an additional 55,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in GrowGeneration by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock valued at $3,034,000 after acquiring an additional 43,701 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in GrowGeneration by 9.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock valued at $1,461,000 after acquiring an additional 42,123 shares during the period. 36.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GRWG has been the subject of a number of recent analyst reports. Alliance Global Partners reduced their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Roth Mkm dropped their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Lake Street Capital dropped their price objective on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Stifel Nicolaus dropped their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.75.

GrowGeneration Stock Up 1.0 %

Shares of NASDAQ GRWG opened at $2.06 on Thursday. GrowGeneration Corp. has a 12 month low of $1.77 and a 12 month high of $3.38. The company has a market cap of $125.06 million, a price-to-earnings ratio of -2.61 and a beta of 3.14. The business has a fifty day simple moving average of $2.04 and a 200-day simple moving average of $2.31.

GrowGeneration (NASDAQ:GRWG) last issued its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $53.54 million during the quarter, compared to analyst estimates of $53.00 million. GrowGeneration had a negative return on equity of 19.43% and a negative net margin of 23.91%. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, sell-side analysts expect that GrowGeneration Corp. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at GrowGeneration

In other news, CEO Darren Lampert bought 85,300 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the completion of the transaction, the chief executive officer now directly owns 1,518,420 shares in the company, valued at $2,854,629.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Darren Lampert acquired 85,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the completion of the acquisition, the chief executive officer now owns 1,518,420 shares of the company’s stock, valued at $2,854,629.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Michael Salaman bought 85,301 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $1.88 per share, with a total value of $160,365.88. Following the completion of the purchase, the president now owns 1,425,376 shares of the company’s stock, valued at approximately $2,679,706.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 246,685 shares of company stock worth $468,800. 7.07% of the stock is currently owned by insiders.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.