Insider Buying: Franchise Group (NYSE:FRG) CEO Acquires $9,300,000.00 in Stock

Franchise Group (NYSE:FRG) CEO Brian Randall Kahn purchased 400,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $9,300,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,373 shares of the company’s stock, valued at approximately $31,922.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of FRG stock opened at $24.50 on Friday. Franchise Group has a 52 week low of $5.75 and a 52 week high of $27.49. The firm’s 50-day simple moving average is $22.15 and its two-hundred day simple moving average is $18.33.

Franchise Group (NYSE:FRG) last announced its quarterly earnings data on Thursday, June 18th. The company reported $2.11 EPS for the quarter. The company had revenue of $592.57 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, June 22nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, June 19th.

Several brokerages have commented on FRG. B. Riley began coverage on shares of Franchise Group in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price objective on the stock. TheStreet lowered shares of Franchise Group from a “c-” rating to a “d+” rating in a research report on Monday, April 13th.

Several hedge funds and other institutional investors have recently bought and sold shares of FRG. Citigroup Inc. raised 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 valued at $28,000 after purchasing an additional 3,121 shares during the period. Cowen Prime Services LLC bought a new stake in shares of Franchise Group in the first quarter valued at approximately $66,000. UBS Group AG raised its position 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 purchasing an additional 4,076 shares during the period. SG Americas Securities LLC bought a new stake in shares of Franchise Group in the second quarter valued at approximately $230,000. Finally, Geode Capital Management LLC bought a new stake in Franchise Group during the 1st quarter worth approximately $385,000.

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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