Fred’s (FRED) Sees Strong Trading Volume After Insider Buying Activity

Fred’s, Inc. (NASDAQ:FRED) shares saw unusually-high trading volume on Monday after an insider bought additional shares in the company. Approximately 2,233,345 shares were traded during trading, an increase of 71% from the previous session’s volume of 1,304,399 shares.The stock last traded at $2.56 and had previously closed at $2.46.

Specifically, major shareholder Alden Global Capital Llc bought 195,000 shares of the stock in a transaction on Thursday, October 25th. The shares were purchased at an average price of $2.49 per share, with a total value of $485,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 3,334,000 shares of company stock worth $9,656,870 in the last ninety days. Insiders own 27.20% of the company’s stock.

FRED has been the topic of a number of research analyst reports. ValuEngine raised Fred’s from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Loop Capital set a $2.00 target price on Fred’s and gave the company a “hold” rating in a report on Monday, September 10th.



The company has a debt-to-equity ratio of 1.26, a current ratio of 1.83 and a quick ratio of 0.43.

Fred’s (NASDAQ:FRED) last announced 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 for the quarter.

Several large investors have recently made changes to their positions in FRED. Jane Street Group LLC acquired a new stake in shares of Fred’s during the 2nd quarter worth approximately $177,000. Weber Alan W acquired a new stake in shares of Fred’s during the 2nd quarter worth approximately $228,000. LMR Partners LLP acquired a new stake in shares of Fred’s during the 2nd quarter worth approximately $268,000. Paloma Partners Management Co acquired a new stake in Fred’s in the 2nd quarter valued at $399,000. Finally, Millennium Management LLC acquired a new stake in Fred’s in the 2nd quarter valued at $827,000. 67.59% of the stock is currently owned by institutional investors.

Fred’s Company Profile (NASDAQ:FRED)

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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