Whole Earth Brands, Inc. (NASDAQ:FREE) CFO Acquires $64,876.50 in Stock

Posted by Michael Walen on May 26th, 2023

Whole Earth Brands, Inc. (NASDAQ:FREE – Get Rating) CFO Bernardo Fiaux acquired 19,962 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average price of $3.25 per share, with a total value of $64,876.50. Following the completion of the transaction, the chief financial officer now directly owns 78,050 shares of the company’s stock, valued at approximately $253,662.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bernardo Fiaux also recently made the following trade(s):

On Monday, May 22nd, Bernardo Fiaux bought 12,553 shares of Whole Earth Brands stock. The shares were bought at an average price of $3.15 per share, with a total value of $39,541.95.
On Thursday, May 18th, Bernardo Fiaux bought 1,000 shares of Whole Earth Brands stock. The stock was purchased at an average cost of $2.90 per share, for a total transaction of $2,900.00.

Whole Earth Brands Stock Performance

FREE traded down $0.27 during trading on Friday, hitting $2.86. 361,801 shares of the stock were exchanged, compared to its average volume of 413,436. The firm has a market capitalization of $120.84 million, a P/E ratio of -1.52 and a beta of 0.44. Whole Earth Brands, Inc. has a 1-year low of $2.09 and a 1-year high of $7.38. The stock has a fifty day moving average price of $2.56 and a two-hundred day moving average price of $3.30. The company has a quick ratio of 1.03, a current ratio of 3.24 and a debt-to-equity ratio of 1.64.

Whole Earth Brands (NASDAQ:FREE – Get Rating) last posted its earnings results on Monday, March 13th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.45). Whole Earth Brands had a negative return on equity of 25.99% and a negative net margin of 15.05%. The firm had revenue of $138.90 million for the quarter, compared to analysts’ expectations of $139.59 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts predict that Whole Earth Brands, Inc. will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Whole Earth Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG acquired a new stake in shares of Whole Earth Brands during the 3rd quarter worth approximately $25,000. Virtu Financial LLC bought a new stake in shares of Whole Earth Brands during the 1st quarter worth $26,000. HighTower Advisors LLC purchased a new stake in shares of Whole Earth Brands in the first quarter valued at $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Whole Earth Brands by 62.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,204 shares of the company’s stock worth $35,000 after acquiring an additional 3,533 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Whole Earth Brands during the first quarter worth $37,000. Hedge funds and other institutional investors own 64.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FREE. Roth Capital restated a “buy” rating on shares of Whole Earth Brands in a research note on Thursday, March 16th. Imperial Capital assumed coverage on shares of Whole Earth Brands in a report on Wednesday, April 12th. They issued an “outperform” rating and a $8.25 target price for the company. Finally, Canaccord Genuity Group reduced their price objective on shares of Whole Earth Brands from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, March 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $8.85.

Whole Earth Brands Company Profile

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Act II Global Acquisition Corp. is a blank check company. It intends to focus on the business of following sector: consumer packaged goods, consumables and hospitality including restaurants. The company was founded on August 16, 2018 and is headquartered in New York, NY.