Emerald Advisers Inc. PA Has $13.46 Million Stake in Freshpet, Inc. (FRPT)
Emerald Advisers Inc. PA grew its position in Freshpet, Inc. (NASDAQ:FRPT) by 27.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 860,124 shares of the company’s stock after purchasing an additional 183,620 shares during the quarter. Emerald Advisers Inc. PA owned approximately 2.70% of Freshpet worth $13,461,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in FRPT. Bank of Montreal Can raised its holdings in shares of Freshpet by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after purchasing an additional 103 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Freshpet in the 1st quarter valued at $122,000. American International Group Inc. raised its holdings in shares of Freshpet by 7.1% in the 1st quarter. American International Group Inc. now owns 13,762 shares of the company’s stock valued at $151,000 after purchasing an additional 917 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of Freshpet in the 1st quarter valued at $155,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Freshpet in the 1st quarter valued at $183,000. Institutional investors and hedge funds own 66.83% of the company’s stock.
Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the company posted ($0.10) earnings per share.
In other news, CFO Richard A. Kassar sold 23,239 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total transaction of $371,824.00. Following the completion of the transaction, the chief financial officer now owns 208,971 shares in the company, valued at $3,343,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott James Morris sold 2,101 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $15.80, for a total transaction of $33,195.80. Following the transaction, the insider now owns 204,408 shares of the company’s stock, valued at approximately $3,229,646.40. The disclosure for this sale can be found here. Insiders have sold 40,954 shares of company stock valued at $653,704 in the last 90 days. Insiders own 6.80% of the company’s stock.
Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. SunTrust Banks, Inc. lifted their price target on shares of Freshpet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Susquehanna Bancshares Inc assumed coverage on shares of Freshpet in a research note on Monday, October 2nd. They set a “neutral” rating and a $15.00 price target on the stock. Finally, Robert W. Baird set a $20.00 price target on shares of Freshpet and gave the stock a “buy” rating in a research note on Sunday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.07.
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’s products consist of dog food, cat food, and dog and cat treats.
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