FrontFour Capital Group LLC purchased a new stake in shares of Fred's, Inc. (NASDAQ:FRED) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 383,664 shares of the company’s stock, valued at approximately $2,471,000. Fred's comprises approximately 0.5% of FrontFour Capital Group LLC’s portfolio, making the stock its 28th biggest holding. FrontFour Capital Group LLC owned approximately 1.01% of Fred's as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in FRED. California Public Employees Retirement System lifted its position in Fred's by 27.5% in the third quarter. California Public Employees Retirement System now owns 260,544 shares of the company’s stock valued at $1,678,000 after buying an additional 56,251 shares during the last quarter. Cowen Inc. lifted its position in Fred's by 376.7% in the third quarter. Cowen Inc. now owns 143,978 shares of the company’s stock valued at $927,000 after buying an additional 113,778 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Fred's by 26.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 675,331 shares of the company’s stock valued at $4,350,000 after buying an additional 140,163 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Fred's in the third quarter valued at about $2,237,000. Finally, SG Americas Securities LLC lifted its position in Fred's by 210.7% in the third quarter. SG Americas Securities LLC now owns 41,204 shares of the company’s stock valued at $265,000 after buying an additional 27,941 shares during the last quarter.

Fred's, Inc. (NASDAQ:FRED) opened at $3.77 on Wednesday. Fred's, Inc. has a 1 year low of $3.70 and a 1 year high of $21.77. The company has a quick ratio of 0.44, a current ratio of 1.78 and a debt-to-equity ratio of 0.77.

Fred's (NASDAQ:FRED) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.29). The business had revenue of $493.60 million for the quarter, compared to analysts’ expectations of $499.77 million. Fred's had a negative return on equity of 9.94% and a negative net margin of 6.80%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.27) earnings per share. analysts forecast that Fred's, Inc. will post -0.55 EPS for the current year.

Fred's announced that its Board of Directors has initiated a share buyback program on Wednesday, December 6th that allows the company to buyback 3,800,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Fred's from a “hold” rating to a “strong sell” rating in a research report on Monday. Loop Capital reaffirmed a “hold” rating and issued a $4.00 target price on shares of Fred's in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.00.

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Fred's Profile

Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.

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Institutional Ownership by Quarter for Fred's (NASDAQ:FRED)

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