Whole Earth Brands (FREE) Set to Announce Quarterly Earnings on Wednesday

Whole Earth Brands (NASDAQ:FREE – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 10th. Analysts expect Whole Earth Brands to post earnings of ($0.11) per share for the quarter. Whole Earth Brands has set its FY 2023 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Whole Earth Brands (NASDAQ:FREE – Get Rating) last posted its quarterly earnings results on Monday, March 13th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.45). The company had revenue of $138.90 million for the quarter, compared to the consensus estimate of $139.59 million. Whole Earth Brands had a negative net margin of 10.91% and a negative return on equity of 17.20%. During the same quarter in the previous year, the company posted $0.10 EPS.

Whole Earth Brands Price Performance

FREE opened at $2.39 on Monday. The firm has a market cap of $101.29 million, a P/E ratio of -1.71 and a beta of 0.44. The firm has a 50-day moving average of $2.59 and a 200 day moving average of $3.34. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.22 and a current ratio of 3.73. Whole Earth Brands has a fifty-two week low of $2.09 and a fifty-two week high of $7.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Imperial Capital initiated coverage on shares of Whole Earth Brands in a research report on Wednesday, April 12th. They set an “outperform” rating and a $8.25 price target for the company. Canaccord Genuity Group dropped 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 report on Tuesday, March 14th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Whole Earth Brands in a report on Thursday, March 16th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.85.

Insider Buying and Selling at Whole Earth Brands

In other news, major shareholder Sababa Holdings Free Llc purchased 1,900,000 shares of the stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $2.97 per share, with a total value of $5,643,000.00. Following the completion of the acquisition, the insider now owns 7,666,300 shares in the company, valued at approximately $22,768,911. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Whole Earth Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Whole Earth Brands in the first quarter worth about $37,000. UBS Group AG purchased a new stake in shares of Whole Earth Brands in the third quarter worth about $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of Whole Earth Brands by 62.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,204 shares of the company’s stock worth $35,000 after buying an additional 3,533 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Whole Earth Brands in the fourth quarter valued at approximately $41,000. Finally, Barclays PLC raised its stake in Whole Earth Brands by 157.5% in the fourth quarter. Barclays PLC now owns 13,799 shares of the company’s stock valued at $57,000 after purchasing an additional 8,440 shares in the last quarter. 64.80% of the stock is owned by hedge funds and other institutional investors.

Whole Earth Brands Company Profile

(Get Rating)

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.