Fred’s (FRED) Shares Down 6.2%
Shares of Fred’s, Inc. (NASDAQ:FRED) fell 6.2% on Wednesday . The company traded as low as $0.45 and last traded at $0.45. 734,004 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 713,315 shares. The stock had previously closed at $0.48.
Separately, ValuEngine upgraded shares of Fred’s from a “hold” rating to a “buy” rating in a research note on Monday, April 1st.
The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.32 and a current ratio of 1.47.
A number of large investors have recently added to or reduced their stakes in FRED. Morgan Stanley raised its stake in Fred’s by 3,270.7% during the 1st quarter. Morgan Stanley now owns 394,471 shares of the company’s stock valued at $975,000 after purchasing an additional 382,768 shares during the last quarter. Royce & Associates LP raised its stake in Fred’s by 15.2% during the 4th quarter. Royce & Associates LP now owns 1,818,269 shares of the company’s stock valued at $3,437,000 after purchasing an additional 239,900 shares during the last quarter. Renaissance Technologies LLC raised its stake in Fred’s by 35.9% during the 1st quarter. Renaissance Technologies LLC now owns 800,945 shares of the company’s stock valued at $1,978,000 after purchasing an additional 211,400 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Fred’s during the 4th quarter valued at $135,000. Finally, Virtu Financial LLC acquired a new position in Fred’s during the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.
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About Fred’s (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.
Further Reading: What is the return on assets (ROA) ratio?
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