Laurion Capital Management LP Acquires New Holdings in Freshpet Inc (FRPT)

Laurion Capital Management LP acquired a new stake in shares of Freshpet Inc (NASDAQ:FRPT) in the first quarter, Holdings Channel reports. The institutional investor acquired 51,550 shares of the company’s stock, valued at approximately $2,180,000.

Several other institutional investors also recently added to or reduced their stakes in FRPT. Great West Life Assurance Co. Can acquired a new position in shares of Freshpet in the fourth quarter valued at approximately $58,000. We Are One Seven LLC bought a new stake in Freshpet during the fourth quarter worth $103,000. SG Americas Securities LLC bought a new stake in Freshpet during the first quarter worth $140,000. Legal & General Group Plc raised its position in Freshpet by 28.2% during the fourth quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock worth $167,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new stake in Freshpet during the first quarter worth $190,000. Institutional investors own 75.29% of the company’s stock.

Several research firms have issued reports on FRPT. TheStreet lowered shares of Freshpet from a “b” rating to a “c” rating in a research report on Monday, April 1st. Zacks Investment Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 price target on the stock in a research report on Monday, May 6th. BidaskClub raised shares of Freshpet from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Imperial Capital reaffirmed an “in-line” rating and set a $40.00 price target (up from $35.00) on shares of Freshpet in a research report on Monday, March 4th. Finally, Credit Suisse Group set a $36.00 price target on shares of Freshpet and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Freshpet currently has a consensus rating of “Buy” and an average target price of $40.00.

FRPT stock opened at $47.30 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 1.08. Freshpet Inc has a 52 week low of $21.30 and a 52 week high of $48.47. The stock has a market capitalization of $1.70 billion, a P/E ratio of -315.33 and a beta of 1.34.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The business had revenue of $54.80 million during the quarter, compared to analyst estimates of $54.28 million. During the same quarter last year, the company posted ($0.10) earnings per share. The company’s revenue was up 26.9% on a year-over-year basis. On average, analysts predict that Freshpet Inc will post 0.08 EPS for the current year.

In related news, major shareholder Associates Spc Midocean sold 4,000,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $38.57, for a total value of $154,280,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen Macchiaverna sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the vice president now owns 90,860 shares in the company, valued at $3,634,400. The disclosure for this sale can be found here. Insiders sold 4,075,000 shares of company stock worth $157,280,000 over the last 90 days. 5.10% of the stock is currently owned by corporate insiders.

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About Freshpet

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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