Home Hedge Funds Whole Earth Brands (NASDAQ:FREE) Downgraded by Zacks Investment Research

Whole Earth Brands (NASDAQ:FREE) Downgraded by Zacks Investment Research

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Whole Earth Brands (NASDAQ:FREEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Whole Earth Brands expand its branded products platform through investment opportunities in the natural alternatives and clean label categories across consumer product industry. Whole Earth Brands, formerly known as Act II Global Acquisition Corp., is based in Chicago, Illinois. “

FREE traded down $0.16 on Friday, reaching $6.99. The company had a trading volume of 146,990 shares, compared to its average volume of 265,836. Whole Earth Brands has a 1 year low of $6.03 and a 1 year high of $14.63. The stock has a market capitalization of $292.96 million, a PE ratio of 21.84 and a beta of 0.36. The company has a quick ratio of 1.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average price of $6.98 and a 200-day moving average price of $8.80.

Whole Earth Brands (NASDAQ:FREEGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Whole Earth Brands had a net margin of 2.86% and a return on equity of 6.80%. The company had revenue of $130.59 million during the quarter, compared to analysts’ expectations of $127.22 million. As a group, analysts expect that Whole Earth Brands will post 0.66 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in FREE. Steward Partners Investment Advisory LLC increased its stake in Whole Earth Brands by 27.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 7,161 shares of the company’s stock valued at $51,000 after purchasing an additional 1,548 shares during the period. First Republic Investment Management Inc. increased its stake in Whole Earth Brands by 2.7% in the third quarter. First Republic Investment Management Inc. now owns 67,772 shares of the company’s stock valued at $783,000 after purchasing an additional 1,760 shares during the period. Rhumbline Advisers increased its stake 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. Charles Schwab Investment Management Inc. increased its stake in Whole Earth Brands by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 97,764 shares of the company’s stock valued at $700,000 after purchasing an additional 2,595 shares during the period. Finally, Radnor Capital Management LLC increased its stake in Whole Earth Brands by 3.9% in the fourth quarter. Radnor Capital Management LLC now owns 71,665 shares of the company’s stock valued at $770,000 after purchasing an additional 2,675 shares during the period. 87.22% of the stock is owned by hedge funds and other institutional investors.

Whole Earth Brands Company Profile (Get Rating)

Whole Earth Brands, Inc operates as a food company worldwide. It operates through two segments, Branded CPG and Flavors & Ingredients. The Branded CPG segment focuses on building a branded portfolio serving consumers seeking zero-calorie, low-calorie, natural, no-sugar added, and plant-based products.

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