Whole Earth Brands (NASDAQ:FREE) Receives “Buy” Rating from Roth Capital

Whole Earth Brands (NASDAQ:FREE – Get Rating)‘s stock had its “buy” rating restated by investment analysts at Roth Capital in a research report issued on Thursday, PriceTargets.com reports.

A number of other equities research analysts have also recently commented on the stock. Cowen cut their price target on shares of Whole Earth Brands from $14.00 to $11.00 in a report on Monday, November 21st. Canaccord Genuity Group cut their price target on shares of Whole Earth Brands from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cowen cut their price target on shares of Whole Earth Brands from $14.00 to $11.00 in a report on Monday, November 21st.

Whole Earth Brands Price Performance

Shares of FREE opened at $2.95 on Thursday. The stock has a market cap of $124.17 million, a PE ratio of -2.11 and a beta of 0.49. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.14 and a current ratio of 3.73. Whole Earth Brands has a fifty-two week low of $2.38 and a fifty-two week high of $7.92. The firm’s 50-day simple moving average is $3.57 and its two-hundred day simple moving average is $3.81.

Whole Earth Brands (NASDAQ:FREE – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.45). The business had revenue of $138.90 million during the quarter, compared to analysts’ expectations of $139.59 million. Whole Earth Brands had a negative return on equity of 17.20% and a negative net margin of 10.91%. During the same quarter last year, the company posted $0.10 EPS. Analysts anticipate that Whole Earth Brands will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Whole Earth Brands

In related news, major shareholder Sababa Holdings Free Llc acquired 580,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average price of $2.79 per share, for a total transaction of $1,618,200.00. Following the completion of the transaction, the insider now directly owns 8,366,300 shares in the company, valued at $23,341,977. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FREE. PNC Financial Services Group Inc. raised its position in Whole Earth Brands by 84.5% in the first quarter. PNC Financial Services Group Inc. now owns 18,450 shares of the company’s stock worth $132,000 after acquiring an additional 8,450 shares during the period. MetLife Investment Management LLC raised its position in Whole Earth Brands by 58.5% in the first quarter. MetLife Investment Management LLC now owns 25,982 shares of the company’s stock worth $186,000 after acquiring an additional 9,589 shares during the period. Panagora Asset Management Inc. bought a new position in Whole Earth Brands in the first quarter worth approximately $149,000. Rhumbline Advisers raised its position in Whole Earth Brands by 5.1% in the first quarter. Rhumbline Advisers now owns 44,144 shares of the company’s stock worth $316,000 after acquiring an additional 2,153 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Whole Earth Brands by 176.2% in the first quarter. Dimensional Fund Advisors LP now owns 311,010 shares of the company’s stock worth $2,227,000 after acquiring an additional 198,392 shares during the period. Institutional investors own 64.80% of the company’s stock.

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.