Rivermont Capital Management in New York City increased its Grocery Outlet position by 1.1 million shares, totaling $21.67 million as of September 30. Top holdings include STX, FERG, WTW, CLH, and WDC. Grocery Outlet’s stock price is at $10.27, down nearly 40% from last year.

Rivermont Capital Management’s buy of Grocery Outlet shares boosted its position by nearly 1.1 million shares, with a value of $18.51 million. The fund reported holding 1.35 million GO shares worth $21.67 million as of September 30. Grocery Outlet operates discounted stores in multiple U.S. states.

Grocery Outlet’s stock price at $10.27 is down almost 40% from last year. Despite this, the company’s net sales increased by 5.4% in the third quarter. Adjusted EBITDA was $66.7 million, reflecting growth initiatives and promotions. The company operates 563 stores and focuses on offering discounted name-brand products.

Rivermont Capital Management disclosed a buy of Grocery Outlet shares, increasing its position by nearly 1.1 million shares in an estimated $18.51 million position change. The fund reported holding 1.35 million GO shares valued at $21.67 million as of September 30. Grocery Outlet’s stock price is currently at $10.27.

Grocery Outlet, a discount grocery store chain, saw Rivermont Capital Management increase its holdings by nearly 1.1 million shares in the third quarter, totaling $21.67 million. The company offers a variety of grocery products across multiple U.S. states. Grocery Outlet’s stock price is currently at $10.27.

Read more at Yahoo Finance: Why a Fund Just Added $18.5 Million to Grocery Outlet Despite a 40% One-Year Stock Slide