Brian Randall Kahn Acquires 400,000 Shares of Franchise Group (NYSE:FRG) Stock
Franchise Group (NYSE:FRG) CEO Brian Randall Kahn acquired 400,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $23.25 per share, with a total value of $9,300,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,373 shares in the company, valued at approximately $31,922.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Franchise Group stock opened at $24.50 on Friday. The company has a 50-day moving average of $22.15 and a 200 day moving average of $18.33. Franchise Group has a 1 year low of $5.75 and a 1 year high of $27.49.
Franchise Group (NYSE:FRG) last issued its quarterly earnings results on Thursday, June 18th. The company reported $2.11 earnings per share (EPS) for the quarter. The business had revenue of $592.57 million during the quarter.
FRG has been the subject of several research reports. TheStreet lowered shares of Franchise Group from a “c-” rating to a “d+” rating in a report on Monday, April 13th. B. Riley started coverage on shares of Franchise Group in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target for the company.
A number of hedge funds have recently made changes to their positions in FRG. Bank of New York Mellon Corp purchased a new stake in Franchise Group during the 4th quarter valued at about $952,000. Bank of America Corp DE purchased a new stake in Franchise Group during the 4th quarter valued at about $404,000. Cowen Prime Services LLC purchased a new stake in Franchise Group during the 1st quarter valued at about $66,000. Kayne Anderson Capital Advisors LP purchased a new stake in Franchise Group during the 1st quarter valued at about $10,900,000. Finally, American Financial Group Inc. boosted its holdings in shares of Franchise Group by 62.4% during the 1st quarter. American Financial Group Inc. now owns 306,328 shares of the company’s stock valued at $2,670,000 after acquiring an additional 117,648 shares during the last quarter.
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.
Further Reading: Cost of Equity For A Business, Investors
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