Insider Buying: Freshpet Inc. (FRPT) CEO Purchases $498,277.98 in Stock
Freshpet Inc. (NASDAQ:FRPT) CEO William B. Cyr acquired 50,382 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $9.89 per share, with a total value of $498,277.98. Following the completion of the transaction, the chief executive officer now owns 27,919 shares of the company’s stock, valued at $276,118.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Freshpet Inc. (NASDAQ:FRPT) opened at 9.16 on Wednesday. The company’s market cap is $291.29 million. The stock’s 50 day moving average price is $10.12 and its 200 day moving average price is $9.01. Freshpet Inc. has a 12-month low of $5.60 and a 12-month high of $11.81.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.07. Freshpet had a negative return on equity of 3.80% and a negative net margin of 3.12%. The business had revenue of $33 million for the quarter, compared to the consensus estimate of $32.92 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Freshpet’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Freshpet Inc. will post ($0.12) EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its position in shares of Freshpet by 5.7% in the second quarter. American International Group Inc. now owns 12,860 shares of the company’s stock worth $120,000 after buying an additional 690 shares during the last quarter. Wrapmanager Inc. boosted its position in shares of Freshpet by 21.1% in the first quarter. Wrapmanager Inc. now owns 17,209 shares of the company’s stock worth $126,000 after buying an additional 3,000 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Freshpet by 7.5% in the second quarter. Nationwide Fund Advisors now owns 14,298 shares of the company’s stock worth $133,000 after buying an additional 992 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Freshpet by 4.3% in the second quarter. Rhumbline Advisers now owns 20,700 shares of the company’s stock worth $193,000 after buying an additional 860 shares during the last quarter. Finally, US Bancorp DE purchased a new position in shares of Freshpet during the second quarter worth about $278,000. Institutional investors and hedge funds own 66.93% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Freshpet from a “strong sell” rating to a “hold” rating in a research report on Monday, August 8th. Robert W. Baird reiterated an “outperform” rating and issued a $10.00 price objective on shares of Freshpet in a research report on Monday, August 8th. Wedbush lowered Freshpet from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $11.00 in a research report on Monday, August 15th. TheStreet lowered Freshpet from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $10.00 target price (up previously from $9.00) on shares of Freshpet in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Freshpet currently has an average rating of “Hold” and a consensus price target of $10.56.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company offers products consisting of dog food, cat food, and dog and cat treats.
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