Insider Buying: Whole Earth Brands, Inc. (NASDAQ:FREE) CFO Buys 12,553 Shares of Stock

Posted by Lindsey Winhoffer on May 26th, 2023

Whole Earth Brands, Inc. (NASDAQ:FREE – Get Rating) CFO Bernardo Fiaux bought 12,553 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were bought at an average cost of $3.15 per share, for a total transaction of $39,541.95. Following the completion of the acquisition, the chief financial officer now owns 33,461 shares of the company’s stock, valued at $105,402.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bernardo Fiaux also recently made the following trade(s):

On Thursday, May 18th, Bernardo Fiaux bought 1,000 shares of Whole Earth Brands stock. The shares were bought at an average cost of $2.90 per share, for a total transaction of $2,900.00.

Whole Earth Brands Stock Performance

Shares of Whole Earth Brands stock opened at $3.13 on Friday. Whole Earth Brands, Inc. has a one year low of $2.09 and a one year high of $7.38. The company has a market cap of $132.23 million, a price-to-earnings ratio of -1.61 and a beta of 0.44. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.03 and a current ratio of 3.24. The business’s 50 day moving average price is $2.56 and its 200 day moving average price is $3.30.

Whole Earth Brands (NASDAQ:FREE – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.45). Whole Earth Brands had a negative return on equity of 25.99% and a negative net margin of 15.05%. The company had revenue of $138.90 million for the quarter, compared to analysts’ expectations of $139.59 million. During the same quarter in the previous year, the business posted $0.10 EPS. On average, research analysts predict that Whole Earth Brands, Inc. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Whole Earth Brands

A number of institutional investors have recently added to or reduced their stakes in FREE. PNC Financial Services Group Inc. lifted its position in Whole Earth Brands by 84.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,450 shares of the company’s stock worth $132,000 after buying an additional 8,450 shares in the last quarter. MetLife Investment Management LLC raised its position in Whole Earth Brands by 58.5% in the first quarter. MetLife Investment Management LLC now owns 25,982 shares of the company’s stock valued at $186,000 after purchasing an additional 9,589 shares during the period. Panagora Asset Management Inc. purchased a new stake in Whole Earth Brands in the first quarter valued at $149,000. Rhumbline Advisers raised its position in Whole Earth Brands by 5.1% in the first quarter. Rhumbline Advisers now owns 44,144 shares of the company’s stock valued at $316,000 after purchasing an additional 2,153 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Whole Earth Brands by 176.2% in the first quarter. Dimensional Fund Advisors LP now owns 311,010 shares of the company’s stock valued at $2,227,000 after purchasing an additional 198,392 shares during the period. Hedge funds and other institutional investors own 64.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FREE. Roth Capital reissued a “buy” rating on shares of Whole Earth Brands in a report on Thursday, March 16th. Canaccord Genuity Group dropped their price objective on Whole Earth Brands from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, March 14th. Finally, Imperial Capital began coverage on Whole Earth Brands in a report on Wednesday, April 12th. They issued an “outperform” rating and a $8.25 price objective on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $8.85.

About Whole Earth Brands

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Act II Global Acquisition Corp. is a blank check company. It intends to focus on the business of following sector: consumer packaged goods, consumables and hospitality including restaurants. The company was founded on August 16, 2018 and is headquartered in New York, NY.