B. Riley Begins Coverage on Franchise Group (NYSE:FRG)

B. Riley started coverage on shares of Franchise Group (NYSE:FRG) in a report released on Friday morning, FinViz reports. The firm issued a buy rating and a $34.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Stephens initiated coverage on Franchise Group in a research report on Monday, August 31st. They set an equal weight rating and a $33.00 price objective for the company. Barrington Research initiated coverage on shares of Franchise Group in a report on Wednesday, September 2nd. They set an outperform rating and a $33.00 price target for the company.

Franchise Group stock opened at $27.19 on Friday. Franchise Group has a 52-week low of $5.75 and a 52-week high of $28.61. The company’s 50 day moving average is $25.35 and its two-hundred day moving average is $18.96.

Franchise Group (NYSE:FRG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.29. The company had revenue of $512.63 million during the quarter, compared to analyst estimates of $511.00 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.68%.

In related news, major shareholder B. Riley Financial, Inc. acquired 25,000 shares of Franchise Group stock in a transaction dated Monday, June 29th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $536,000.00. Following the transaction, the insider now owns 350,000 shares of the company’s stock, valued at $7,504,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brc Partners Opportunity Fund, bought 75,000 shares of the stock in a transaction dated Monday, June 29th. The stock was bought at an average price of $22.65 per share, with a total value of $1,698,750.00. Over the last ninety days, insiders have bought 874,785 shares of company stock valued at $20,902,877.

Several hedge funds have recently modified their holdings of FRG. Bank of Montreal Can purchased a new stake in shares of Franchise Group in the 2nd quarter valued at about $32,000. Ameritas Investment Partners Inc. purchased a new stake in Franchise Group in the second quarter valued at approximately $37,000. Citigroup Inc. lifted its stake in Franchise Group by 2,644.9% in the first quarter. Citigroup Inc. now owns 3,239 shares of the company’s stock valued at $28,000 after buying an additional 3,121 shares during the last quarter. UBS Group AG boosted its holdings in shares of Franchise Group by 199.9% in the second quarter. UBS Group AG now owns 6,115 shares of the company’s stock valued at $134,000 after acquiring an additional 4,076 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Franchise Group during the second quarter worth approximately $131,000.

Franchise Group Company Profile

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.

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