business

Will activist investors be a game-changer for Freshpet (FRPT) stocks?


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freshpet (NASDAQ:FRPT) shares rally on Friday as traders view news of activist involvement in the company as potential upside.

Activist Investor Jana Partners took a 9.6% stake in Freshpet with its acquisition of 4.5 million FRPT shares. This investment was made on September 12 and represents a total of $188 million.

With this large stake in the pet food company, traders are wondering what the activist investor has planned. Jana Partners is not beating around the bush, saying it wants to improve its finances to facilitate the sale of the business.

Freshpet’s response to the news

Freshpet issued the following statement to just food asked about his new investor.

“We are aware of the news that Jana has invested in Freshpet. Although we haven’t spoken to Jana yet, we welcome new investors to Freshpet and look forward to hearing their views.”

Today’s news has drawn attention to FRPT stocks, with some traders hoping to enter ahead of a bigger rally. This has the company’s shares heavily traded with some 2.2 million units in motion. That’s already more than double the company’s average daily trading volume of around 1.1 million shares.

FRPT stock is up 1.3% on Friday afternoon after seeing a larger rally this morning. Investors will note that the shares are down 51.7% year-to-date.

Investors on the lookout for all the latest stock market news will want to stick around!

We have all the latest business news to know on Friday! Some examples of this include why the shares of Fubo TV (NYSE:FUBO) Inventory, Therapeutic Avenue (NASDAQ:ATXI) shares, and fedex (NYSE:FDX) stocks are moving today. You can read all this news, and more, at the following links!

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As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

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