Noteworthy Price Action: Could Fred’s, Inc. See a Reversal After This Very Strong Session?

Noteworthy Price Action: Could Fred's, Inc. See a Reversal After This Very Strong Session?

The stock of Fred’s, Inc. (NASDAQ:FRED) is a huge mover today! About 76,854 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 36.60% since February 29, 2016 and is downtrending. It has underperformed by 48.81% the S&P500.
The move comes after 7 months positive chart setup for the $377.60 million company. It was reported on Oct, 3 by We have $21.23 PT which if reached, will make NASDAQ:FRED worth $415.36M more.

Fred’s, Inc. (NASDAQ:FRED) Ratings Coverage

Out of 3 analysts covering Fred’s (NASDAQ:FRED), 0 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 0 are positive. Fred’s has been the topic of 8 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Wednesday, November 25 by M Partners. The company was maintained on Tuesday, May 31 by Deutsche Bank. The rating was downgraded by Stephens on Wednesday, August 31 to “Underperform”. On Friday, August 7 the stock rating was downgraded by Stephens to “Overweight”. M Partners maintained the shares of FRED in a report on Monday, August 31 with “Neutral” rating. On Wednesday, August 31 the stock rating was maintained by Deutsche Bank with “Sell”. Stephens downgraded Fred’s, Inc. (NASDAQ:FRED) on Monday, August 10 to “Equal Weight” rating.

According to Zacks Investment Research, “Fred’s, Inc. operates discount general merchandise stores in a number states in the southeastern United States. Fred’s stores generally serve low, middle and fixed income families located in small to medium sized towns. The majority of the company’s stores have full service pharmacies. The company also markets goods and services to franchised Fred’s stores.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 1.06, from 2.06 in 2016Q1. The ratio worsened, as 9 funds sold all Fred’s, Inc. shares owned while 37 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 33.17 million shares or 0.45% less from 33.32 million shares in 2016Q1.
Tiaa Cref Investment Mgmt Ltd Liability holds 0% or 109,899 shares in its portfolio. The Kentucky-based Teachers Retirement Of The State Of Kentucky has invested 0% in Fred’s, Inc. (NASDAQ:FRED). Paloma Prtnrs Management Co has 15,921 shares for 0% of their US portfolio. Kennedy Mgmt holds 0.21% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 634,525 shares. Walleye Trading Ltd Liability Corp, a Minnesota-based fund reported 3,600 shares. Public Employees Retirement Association Of Colorado has invested 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED). New York State Common Retirement Fund last reported 40,719 shares in the company. Barclays Public Ltd Co last reported 0% of its portfolio in the stock. Invesco Ltd holds 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 94,987 shares. State Street holds 0% or 800,903 shares in its portfolio. Royal Comml Bank Of Canada owns 18,000 shares or 0% of their US portfolio. Moreover, Retail Bank Of New York Mellon has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 711,012 shares. Strs Ohio holds 0% or 47,100 shares in its portfolio. Blackrock reported 9,267 shares or 0% of all its holdings. Matarin Cap Mgmt Llc owns 20,378 shares or 0% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 12 insider sales for $986,658 net activity. $147,100 worth of Fred’s, Inc. (NASDAQ:FRED) was sold by HAYES MICHAEL on Tuesday, May 31. $102,683 worth of shares were sold by Chambers Ricky on Tuesday, May 31. The insider Dely Mark C sold $11,938. $22,254 worth of Fred’s, Inc. (NASDAQ:FRED) was sold by Holligan Mike on Tuesday, May 31.

More notable recent Fred’s, Inc. (NASDAQ:FRED) news were published by: which released: “Should You Get Rid of Fred’s, Inc. (FRED) Now?” on September 28, 2016, also with their article: “Fred’s Inc (FRED) Q2 Loss Wider Y/Y Due to Lower Sales” published on August 31, 2016, published: “Bear of the Day: Fred’s Inc. Slides on Its Outlook (FRED)” on September 08, 2016. More interesting news about Fred’s, Inc. (NASDAQ:FRED) were released by: and their article: “Fred’s Inc (FRED) Appoints Michael Bloom as its New CEO” published on August 30, 2016 as well as‘s news article titled: “Deutsche Bank Downgrades Fred’s Inc. (FRED) to Sell” with publication date: August 08, 2016.

FRED Company Profile

Fred’s, Inc. (Fred’s), incorporated on June 22, 1960, is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Firm sells general merchandise to its over 20 franchisees. The Firm 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. The Firm is licensed to dispense pharmaceuticals in approximately 50 states. The Firm operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. The Firm offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden.

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