Seven Eight Capital LP Purchases New Position in Five Below, Inc. (NASDAQ:FIVE)

Seven Eight Capital LP acquired a new position in shares of Five Below, Inc. (NASDAQ:FIVE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,071 shares of the specialty retailer’s stock, valued at approximately $662,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Hsbc Holdings PLC lifted its position in Five Below by 1,501.4% during the 2nd quarter. Hsbc Holdings PLC now owns 43,095 shares of the specialty retailer’s stock worth $4,655,000 after acquiring an additional 40,404 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Five Below by 40.8% during the second quarter. Blair William & Co. IL now owns 71,066 shares of the specialty retailer’s stock valued at $7,744,000 after purchasing an additional 20,593 shares during the period. Amalgamated Bank raised its stake in shares of Five Below by 3.3% during the second quarter. Amalgamated Bank now owns 31,703 shares of the specialty retailer’s stock valued at $3,455,000 after purchasing an additional 1,025 shares during the period. Virtu Financial LLC acquired a new position in shares of Five Below during the second quarter worth $3,872,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Five Below in the second quarter valued at $5,985,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FIVE shares. Gordon Haskett cut Five Below from an “accumulate” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup cut their target price on Five Below from $92.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Guggenheim decreased their price target on shares of Five Below from $165.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley cut shares of Five Below from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $160.00 to $100.00 in a report on Wednesday, July 17th. Finally, Bank of America raised their price objective on shares of Five Below from $75.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Five Below currently has a consensus rating of “Hold” and a consensus target price of $109.95.

Five Below Stock Down 2.6 %

Shares of Five Below stock opened at $95.41 on Friday. The business has a fifty day simple moving average of $79.31 and a 200-day simple moving average of $122.37. Five Below, Inc. has a fifty-two week low of $64.87 and a fifty-two week high of $216.18. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21.

Five Below (NASDAQ:FIVE) last issued its quarterly earnings results on Wednesday, August 28th. The specialty retailer reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Five Below had a net margin of 7.57% and a return on equity of 18.16%. The company had revenue of $830.07 million during the quarter, compared to the consensus estimate of $821.95 million. Analysts anticipate that Five Below, Inc. will post 4.55 earnings per share for the current fiscal year.

Five Below Profile

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.