Ken Griffin, Citadel Increase Investment In Five Below Inc (FIVE)

Ken Griffin, the billionaire hedge fund guru, is bullish on Five Below Inc (NASDAQ:FIVE). According to a recent filing with the Securities and Exchange Commission, Griffin’s Citadel Investment Group increased its holding of the stock from approximately 778,800 to 3.18 million shares, which account for 5.9% of the total number of shares outstanding.

CITADEL INVESTMENT GROUP

Five Below Inc (NASDAQ:FIVE) has also caught the attention of Alexander Mitchell, who has built a new position during the 2013 fourth quarter. His fund, Scopus Asset Management reportedly held 255,000 shares valued at a little over $11 million. Donald Chiboucis has, on the other hand, decided to reduce his fund’s stake in the company by 11% during the same period. As a result, his fund, Columbus Circle Investors, now holds approximately 842,700 shares valued at $36.4 million.

A specialty value retailer, Five Below Inc (NASDAQ:FIVE) has a market cap of $2.09 billion and does not pay a dividend. The stock is traded at a trailing Price to Earnings (P/E) ratio of 65.xx, significantly higher than the industry average of 27.60. So far this year, the stock has fallen 10% to a current price of $38.77 per share. The company announced revenues of $212 million and earnings per share (EPS) of $0.45 for the 13 weeks ending February 1, 2014. Analysts estimate revenues of $121 million and EPS 0f $0.06 for the subsequent quarter.

Griffin has boosted several position recently, one of them being William Lyon Homes (NYSE:WLH). Citadel currently holds 1.4 million Class A shares or 5.1% of the company’s Class A stock. In another move, Griffin has increased his fund’s holding of Arch Coal Inc (NYSE:ACI) to 11.6 million shares, which account for 5.4% of the company’s common stock. Griffin and Citadel have also boosted their stake in Veeva Systems Inc (NYSE:VEEV) to 812,300 shares, which account for 5.4% of the company’s common stock.

Disclosure: none.

Recommended reading:

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Billionaire Ken Griffin’s New Stock Moves

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