Fred’s, Inc. (FRED) Major Shareholder Buys $2,610,320.00 in Stock

Fred’s, Inc. (NASDAQ:FRED) major shareholder Alden Global Capital Llc acquired 974,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was purchased at an average cost of $2.68 per share, for a total transaction of $2,610,320.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Alden Global Capital Llc also recently made the following trade(s):

  • On Monday, October 15th, Alden Global Capital Llc acquired 70,000 shares of Fred’s stock. The stock was purchased at an average cost of $2.53 per share, for a total transaction of $177,100.00.

FRED stock opened at $2.78 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.83 and a debt-to-equity ratio of 1.26. Fred’s, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $5.66.

Fred’s (NASDAQ:FRED) last released its quarterly earnings data on Thursday, September 13th. The company reported ($0.62) earnings per share for the quarter. Fred’s had a negative return on equity of 47.11% and a negative net margin of 7.58%. The firm had revenue of $419.66 million during the quarter.

A number of analysts recently weighed in on FRED shares. Loop Capital set a $2.00 price objective on shares of Fred’s and gave the stock a “hold” rating in a report on Monday, September 10th. ValuEngine raised shares of Fred’s from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd.

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Fred’s during the 2nd quarter valued at about $177,000. Weber Alan W acquired a new position in Fred’s during the 2nd quarter valued at about $228,000. LMR Partners LLP acquired a new position in Fred’s during the 2nd quarter valued at about $268,000. Paloma Partners Management Co acquired a new position in Fred’s during the 2nd quarter valued at about $399,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Fred’s by 42.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,121,498 shares of the company’s stock valued at $3,354,000 after buying an additional 332,999 shares during the period. 67.71% of the stock is currently owned by hedge funds and other institutional investors.

About Fred’s

Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers health, beauty, and personal care products; household cleaning supplies, disposable diapers, pet foods, and paper products; and various general merchandise, and food and beverage products to low, middle, and fixed income families located in small- to medium-sized towns.

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