Contour Asset Management buys $62,821,161 stake in GrubHub Inc (GRUB)

GrubHub Inc (GRUB) : Contour Asset Management scooped up 1,039,731 additional shares in GrubHub Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,630,448 shares of GrubHub Inc which is valued at $62,821,161.GrubHub Inc makes up approximately 5.10% of Contour Asset Management’s portfolio.

Other Hedge Funds, Including , Jane Street Group added GRUB to its portfolio by purchasing 9,533 company shares during the most recent quarter which is valued at $367,306.Mitsubishi Ufj Trust Banking Corp boosted its stake in GRUB in the latest quarter, The investment management firm added 75,070 additional shares and now holds a total of 1,278,179 shares of GrubHub Inc which is valued at $49,248,237. GrubHub Inc makes up approx 0.10% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Osterweis Capital Management Inc reduced its stake in GRUB by selling 15,000 shares or 29.59% in the most recent quarter. The Hedge Fund company now holds 35,700 shares of GRUB which is valued at $1,375,521. GrubHub Inc makes up approx 0.09% of Osterweis Capital Management Inc’s portfolio. Dubuque Bank Trust Co sold out all of its stake in GRUB during the most recent quarter. The investment firm sold 116 shares of GRUB which is valued $4,469.Blackrock Group Ltd boosted its stake in GRUB in the latest quarter, The investment management firm added 2,001 additional shares and now holds a total of 40,004 shares of GrubHub Inc which is valued at $1,541,354.

GrubHub Inc opened for trading at $40.57 and hit $41.08 on the upside on Thursday, eventually ending the session at $41.06, with a gain of 1.21% or 0.49 points. The heightened volatility saw the trading volume jump to 11,86,364 shares. Company has a market cap of $3,499 M.

On the company’s financial health, GrubHub Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.19. The company had revenue of $120.20 million for the quarter, compared to analysts expectations of $114.25 million. The company’s revenue was up 36.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on GrubHub Inc. GrubHub Inc was Initiated by Jefferies to “Hold” on Aug 16, 2016. GrubHub Inc was Downgraded by BofA/Merrill to ” Neutral” on Jul 29, 2016. GrubHub Inc was Downgraded by Monness Crespi & Hardt to ” Neutral” on Jul 29, 2016.

GrubHub Inc. is an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 30000 local restaurants with diners in more than 800 cities across the United States. The Company’s target market is primarily composed of independent restaurants. The Company provides diners on the platform with a personalized platform that helps them search for local restaurants and then place an order from an Internet-connected device. It also provides diners with information about their orders and status. In addition the Company enables re-ordering by storing previous orders preferences and payment information. The Company’s products include GrubHub and seamless Websites GrubHub and seamless mobile applications and mobile Website seamless corporate program allmenus and menupages orderhub and boost restaurant Websites and delivery.

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