Atreides Management LP Invests $68.65 Million in Five Below, Inc. (NASDAQ:FIVE)

Atreides Management LP purchased a new position in shares of Five Below, Inc. (NASDAQ:FIVE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 777,011 shares of the specialty retailer’s stock, valued at approximately $68,649,000. Five Below accounts for 1.7% of Atreides Management LP’s investment portfolio, making the stock its 18th largest holding. Atreides Management LP owned 1.41% of Five Below as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Five Below by 0.4% in the first quarter. Janus Henderson Group PLC now owns 30,164 shares of the specialty retailer’s stock valued at $5,473,000 after buying an additional 115 shares during the period. Fifth Third Bancorp raised its position in shares of Five Below by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,375 shares of the specialty retailer’s stock worth $150,000 after acquiring an additional 147 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Five Below by 9.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,122 shares of the specialty retailer’s stock valued at $231,000 after purchasing an additional 180 shares during the period. Peloton Wealth Strategists boosted its position in shares of Five Below by 3.0% during the 2nd quarter. Peloton Wealth Strategists now owns 6,820 shares of the specialty retailer’s stock valued at $743,000 after purchasing an additional 200 shares in the last quarter. Finally, Partnership Wealth Management LLC grew its stake in Five Below by 63.5% during the third quarter. Partnership Wealth Management LLC now owns 515 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 200 shares during the period.

Five Below Trading Down 0.3 %

NASDAQ FIVE opened at $92.70 on Monday. The business has a fifty day simple moving average of $90.45 and a 200 day simple moving average of $95.41. Five Below, Inc. has a 12 month low of $64.87 and a 12 month high of $216.18. The firm has a market capitalization of $5.10 billion, a P/E ratio of 18.25, a PEG ratio of 1.02 and a beta of 1.20.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FIVE shares. JPMorgan Chase & Co. lowered Five Below from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $89.00 to $95.00 in a research note on Thursday, September 19th. Mizuho reiterated a “neutral” rating and set a $85.00 target price on shares of Five Below in a research report on Thursday, October 3rd. The Goldman Sachs Group cut their target price on shares of Five Below from $124.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Evercore ISI lifted their price target on shares of Five Below from $100.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Craig Hallum increased their price objective on shares of Five Below from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.05.

Five Below Company 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.