B. Riley Financial, Inc. Acquires 50,000 Shares of Franchise Group (NYSE:FRG) Stock

Franchise Group (NYSE:FRG) major shareholder B. Riley Financial, Inc. acquired 50,000 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $23.25 per share, for a total transaction of $1,162,500.00. Following the completion of the transaction, the insider now owns 350,000 shares in the company, valued at $8,137,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

  • On Monday, June 29th, B. Riley Financial, Inc. bought 25,000 shares of Franchise Group stock. The stock was purchased at an average cost of $21.44 per share, with a total value of $536,000.00.
  • On Friday, April 24th, B. Riley Financial, Inc. sold 150,000 shares of Franchise Group stock. The shares were sold at an average price of $10.00, for a total transaction of $1,500,000.00.
  • On Wednesday, April 1st, B. Riley Financial, Inc. acquired 516,734 shares of Franchise Group stock. The stock was purchased at an average cost of $17.00 per share, with a total value of $8,784,478.00.

NYSE:FRG opened at $21.51 on Wednesday. The stock has a 50-day moving average price of $18.95 and a 200 day moving average price of $18.41. Franchise Group has a 12-month low of $5.75 and a 12-month high of $27.49.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Monday, June 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, June 19th.

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Franchise Group by 2,644.9% in the first quarter. Citigroup Inc. now owns 3,239 shares of the company’s stock worth $28,000 after buying an additional 3,121 shares in the last quarter. Cowen Prime Services LLC purchased a new position in Franchise Group during the 1st quarter valued at approximately $66,000. Bank of America Corp DE bought a new stake in Franchise Group in the 4th quarter worth approximately $404,000. Bank of New York Mellon Corp purchased a new stake in shares of Franchise Group during the 4th quarter worth approximately $952,000. Finally, Geode Capital Management LLC bought a new position in shares of Franchise Group during the 1st quarter valued at approximately $385,000.

Separately, TheStreet cut shares of Franchise Group from a “c-” rating to a “d+” rating in a research note on Monday, April 13th.

About Franchise Group

Franchise Group, Inc, through its subsidiaries, provides tax preparation services in the United States and Canada. The company also facilitates refund-based tax settlement financial products, such as refund transfer products and personal income tax refund discounting, as well as provides an online digital Do-It-Yourself tax program in the United States.

See Also: Net Income

Insider Buying and Selling by Quarter for Franchise Group (NYSE:FRG)

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