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.
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
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