CIBC World Markets Inc. purchased a new stake in Five Below Inc (NASDAQ:FIVE) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 4,579 shares of the specialty retailer’s stock, valued at approximately $596,000.
Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC raised its stake in Five Below by 1,598.1% in the 3rd quarter. Advisory Services Network LLC now owns 917 shares of the specialty retailer’s stock worth $119,000 after purchasing an additional 863 shares in the last quarter. Twin Tree Management LP acquired a new stake in Five Below in the 2nd quarter worth about $164,000. Tower Research Capital LLC TRC acquired a new stake in Five Below in the 2nd quarter worth about $176,000. Cerebellum GP LLC acquired a new stake in Five Below in the 3rd quarter worth about $184,000. Finally, CIBC Asset Management Inc acquired a new stake in Five Below in the 2nd quarter worth about $201,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.
Several brokerages have weighed in on FIVE. Credit Suisse Group lifted their price objective on shares of Five Below from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, September 7th. Citigroup lifted their price objective on shares of Five Below from $117.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Royal Bank of Canada lifted their price objective on shares of Five Below to $128.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Deutsche Bank lifted their price objective on shares of Five Below to $136.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Loop Capital lifted their price objective on shares of Five Below from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, September 7th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $119.00.
FIVE stock opened at $101.79 on Friday. Five Below Inc has a 12 month low of $60.00 and a 12 month high of $136.13. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 1.37 and a beta of 0.52.
Five Below (NASDAQ:FIVE) last released its earnings results on Wednesday, December 5th. The specialty retailer reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Five Below had a net margin of 8.83% and a return on equity of 25.97%. The firm had revenue of $312.82 million for the quarter, compared to analyst estimates of $303.54 million. On average, equities research analysts predict that Five Below Inc will post 2.54 earnings per share for the current year.
In related news, Director Daniel Kaufman sold 3,995 shares of Five Below stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $133.18, for a total transaction of $532,054.10. Following the sale, the director now directly owns 5,047 shares of the company’s stock, valued at approximately $672,159.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David N. Makuen sold 12,000 shares of Five Below stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $116.43, for a total transaction of $1,397,160.00. Following the sale, the insider now directly owns 20,863 shares in the company, valued at $2,429,079.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,303 shares of company stock worth $2,346,022. Insiders own 2.60% of the company’s stock.
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Five Below Profile
Five Below, Inc operates as a specialty value retailer in the United States. It offers accessories, including novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and T-shirts, as well as beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, including glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, and related items, as well as provides storage options for the customers room.
Further Reading: What are Institutional Investors?
Want to see what other hedge funds are holding FIVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Five Below Inc (NASDAQ:FIVE).
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