Fred’s (FRED) Trading 13.3% Higher

Fred’s (NASDAQ:FRED) traded up 13.3% during trading on Tuesday . The stock traded as high as $3.27 and last traded at $3.24. 1,283,139 shares changed hands during trading, an increase of 32% from the average session volume of 968,774 shares. The stock had previously closed at $2.86.

Several equities research analysts have commented on the company. ValuEngine upgraded Fred’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research upgraded Fred’s from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.00.

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The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 0.44. The stock has a market cap of $108.57, a PE ratio of -6.23 and a beta of 1.57.

Several hedge funds have recently bought and sold shares of the company. Kessler Investment Group LLC grew its position in shares of Fred’s by 100.0% in the fourth quarter. Kessler Investment Group LLC now owns 29,762 shares of the company’s stock valued at $121,000 after purchasing an additional 14,881 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Fred’s in the third quarter valued at approximately $109,000. Jefferies Group LLC purchased a new stake in shares of Fred’s in the fourth quarter valued at approximately $103,000. Millennium Management LLC purchased a new stake in shares of Fred’s in the fourth quarter valued at approximately $108,000. Finally, SG Americas Securities LLC grew its position in shares of 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 purchasing an additional 27,941 shares in the last quarter.

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About Fred’s

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 household cleaning supplies, health products, beauty and personal care products, disposable diapers, pet foods, paper products, various food and beverage products, and pharmaceuticals to low, middle, and fixed income families in small- to medium- sized towns.

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