Dynamic Technology Lab Private Ltd purchased a new stake in shares of Fred’s, Inc. (NASDAQ:FRED) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 347,392 shares of the company’s stock, valued at approximately $2,237,000. Fred’s makes up 0.4% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 15th biggest holding. Dynamic Technology Lab Private Ltd owned about 0.91% of Fred’s as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRED. Paloma Partners Management Co purchased a new position in shares of Fred’s in the 1st quarter worth approximately $136,000. Howard Hughes Medical Institute lifted its stake in shares of Fred’s by 23.7% during the 2nd quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock worth $124,000 after acquiring an additional 2,574 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Fred’s by 6.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock worth $125,000 after acquiring an additional 804 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Fred’s by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $135,000 after acquiring an additional 300 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Fred’s during the 2nd quarter worth approximately $157,000.
FRED has been the subject of a number of research analyst reports. Zacks Investment Research raised Fred’s from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Loop Capital initiated coverage on Fred’s in a research note on Thursday, August 24th. They set a “hold” rating and a $6.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.50.
Shares of Fred’s, Inc. (NASDAQ:FRED) traded up $0.12 during midday trading on Monday, reaching $5.21. The company’s stock had a trading volume of 1,060,173 shares, compared to its average volume of 1,188,023. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.90 and a quick ratio of 0.45. Fred’s, Inc. has a 1-year low of $4.21 and a 1-year high of $21.77.
Fred’s (NASDAQ:FRED) last announced its quarterly earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The business had revenue of $507.80 million for the quarter, compared to the consensus estimate of $504.90 million. During the same period last year, the business posted ($0.18) EPS. The business’s revenue was down 4.1% compared to the same quarter last year. research analysts expect that Fred’s, Inc. will post -0.39 earnings per share for the current fiscal year.
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Fred’s Company Profile
Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.
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