Fred Alger Management LLC Takes $5.18 Million Position in Five Below, Inc. (NASDAQ:FIVE)

Fred Alger Management LLC purchased a new position in Five Below, Inc. (NASDAQ:FIVE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,673 shares of the specialty retailer’s stock, valued at approximately $5,184,000. Fred Alger Management LLC owned 0.11% of Five Below as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Paladin Wealth LLC purchased a new position in Five Below in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Five Below in the 3rd quarter valued at approximately $30,000. LRI Investments LLC purchased a new position in shares of Five Below during the 1st quarter valued at approximately $38,000. Hobbs Group Advisors LLC acquired a new stake in shares of Five Below during the second quarter worth approximately $44,000. Finally, Partnership Wealth Management LLC increased its stake in shares of Five Below by 63.5% in the third quarter. Partnership Wealth Management LLC now owns 515 shares of the specialty retailer’s stock worth $46,000 after buying an additional 200 shares during the last quarter.

Wall Street Analyst Weigh In

FIVE has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Five Below from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Truist Financial increased their price target on shares of Five Below from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Bank of America lowered Five Below from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $98.00 to $75.00 in a report on Wednesday, November 6th. Craig Hallum increased their target price on Five Below from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Melius Research assumed coverage on Five Below in a report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $106.05.

Five Below Price Performance

FIVE opened at $92.70 on Friday. Five Below, Inc. has a 12 month low of $64.87 and a 12 month high of $216.18. The stock’s 50 day moving average price is $90.45 and its 200 day moving average price is $95.73. The stock has a market cap of $5.10 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.02 and a beta of 1.20.

Five Below (NASDAQ:FIVE) last issued its quarterly earnings results on Wednesday, August 28th. The specialty retailer reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $830.07 million for the quarter, compared to analyst estimates of $821.95 million. Five Below had a return on equity of 18.16% and a net margin of 7.57%. Equities analysts anticipate that Five Below, Inc. will post 4.57 EPS for the current year.

Five Below Profile

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.