Fred’s, Inc. (FRED) Major Shareholder Alden Global Capital Llc Buys 974,000 Shares

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Fred’s, Inc. (NASDAQ:FRED) major shareholder Alden Global Capital Llc acquired 974,000 shares of Fred’s stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average cost of $2.68 per share, with a total value of $2,610,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, October 29th, Alden Global Capital Llc acquired 845,000 shares of Fred’s stock. The shares were purchased at an average cost of $2.53 per share, with a total value of $2,137,850.00.
  • On Thursday, October 25th, Alden Global Capital Llc acquired 195,000 shares of Fred’s stock. The shares were purchased at an average cost of $2.49 per share, with a total value of $485,550.00.
  • On Friday, October 19th, Alden Global Capital Llc acquired 950,000 shares of Fred’s stock. The shares were purchased at an average cost of $3.08 per share, with a total value of $2,926,000.00.
  • On Tuesday, October 23rd, Alden Global Capital Llc acquired 1,145,000 shares of Fred’s stock. The shares were purchased at an average cost of $3.02 per share, with a total value of $3,457,900.00.
  • On Monday, October 15th, Alden Global Capital Llc acquired 70,000 shares of Fred’s stock. The shares were purchased at an average cost of $2.53 per share, with a total value of $177,100.00.

Shares of NASDAQ FRED traded up $0.19 during trading on Friday, reaching $3.43. The company had a trading volume of 1,487,812 shares, compared to its average volume of 1,183,934. Fred’s, Inc. has a twelve month low of $1.30 and a twelve month high of $5.47. 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 released its quarterly earnings results 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 company had revenue of $419.66 million during the quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRED. Jane Street Group LLC acquired a new position in shares of Fred’s in the second quarter worth $177,000. Weber Alan W acquired a new position in shares of Fred’s in the second quarter worth $228,000. LMR Partners LLP acquired a new position in shares of Fred’s in the second quarter worth $268,000. Paloma Partners Management Co acquired a new position in shares of Fred’s in the second quarter worth $399,000. Finally, Millennium Management LLC acquired a new position in shares of Fred’s in the second quarter worth $827,000. 67.57% of the stock is owned by institutional investors.

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

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Fred’s Company Profile

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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