GSA Capital Partners LLP reduced its stake in Five Below Inc (NASDAQ:FIVE) by 66.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,095 shares of the specialty retailer’s stock after selling 23,534 shares during the quarter. GSA Capital Partners LLP’s holdings in Five Below were worth $1,182,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in Five Below by 72.1% during the 1st quarter. Wells Fargo & Company MN now owns 645,375 shares of the specialty retailer’s stock valued at $47,331,000 after buying an additional 270,309 shares in the last quarter. Rhumbline Advisers grew its holdings in Five Below by 2.0% during the 1st quarter. Rhumbline Advisers now owns 127,295 shares of the specialty retailer’s stock valued at $9,336,000 after buying an additional 2,537 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Five Below during the 1st quarter valued at approximately $631,000. Comerica Bank grew its holdings in Five Below by 2.6% during the 1st quarter. Comerica Bank now owns 58,823 shares of the specialty retailer’s stock valued at $4,399,000 after buying an additional 1,474 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Five Below during the 1st quarter valued at approximately $403,000.
In related news, Director Thomas Vellios sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $103.18, for a total transaction of $6,190,800.00. Following the completion of the sale, the director now directly owns 661,977 shares of the company’s stock, valued at approximately $68,302,786.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joel D. Anderson sold 20,929 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $103.50, for a total value of $2,166,151.50. Following the sale, the insider now directly owns 29,117 shares of the company’s stock, valued at $3,013,609.50. The disclosure for this sale can be found here. Insiders have sold a total of 141,806 shares of company stock valued at $14,531,056 over the last three months. 2.60% of the stock is owned by corporate insiders.
Shares of Five Below stock opened at $114.76 on Thursday. Five Below Inc has a one year low of $48.53 and a one year high of $119.70. The company has a market capitalization of $6.48 billion, a PE ratio of 64.11, a P/E/G ratio of 1.69 and a beta of 0.52.
FIVE has been the subject of a number of recent research reports. BidaskClub cut Five Below from a “buy” rating to a “hold” rating in a report on Friday, May 11th. Deutsche Bank reiterated a “buy” rating and issued a $84.00 target price (down previously from $85.00) on shares of Five Below in a report on Friday, May 25th. Deutsche Bank dropped their target price on Five Below from $85.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 25th. Zacks Investment Research cut Five Below from a “hold” rating to a “sell” rating in a report on Monday, May 28th. Finally, JPMorgan Chase & Co. initiated coverage on Five Below in a report on Monday, June 4th. They issued an “overweight” rating and a $87.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.47.
Five Below Company Profile
Five Below, Inc operates as a specialty value retailer in the United States. It offers accessories, including novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and T-shirts, as well as beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, including glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, and related items, as well as provides storage options for the customers room.
Further Reading: Fundamental Analysis and Individual Investors
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