Franchise Group, Inc. (NASDAQ: FRG) CEO Brian Randall Kahn buys 1,000,000 shares
Franchise Group, Inc. (NASDAQ: FRG) CEO Brian Randall Kahn acquired 1,000,000 shares in a trade on Friday, May 21. The shares were purchased at an average price of $ 36.00 per share, for a total value of $ 36,000,000.00. Following the completion of the transaction, the CEO now owns 1,342,788 shares of the company, valued at $ 48,340,368. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NASDAQ FRG shares opened at $ 36.51 on Monday. The company’s 50-day mobile average price is $ 37.00 and its 200-day mobile average price is $ 33.49. Franchise Group, Inc. has a one-year minimum of $ 15.60 and a one-year maximum of $ 41.50. The company has a market cap of $ 1.47 billion, a P / E ratio of -53.79, a P / E / G ratio of 0.71 and a beta of 1.98. The company has a current ratio of 1.46, a quick ratio of 0.70 and a debt ratio of 2.68.
Franchise Group (NASDAQ: FRG) last reported its quarterly results on Thursday, May 6. The company reported earnings per share of $ 0.90 for the quarter, beating the consensus estimate of $ 0.87 by $ 0.03. Franchise Group had a negative net margin of 0.95% and a positive return on equity of 11.75%. The company posted revenue of $ 621.35 million for the quarter, compared to analysts’ estimates of $ 709.82 million. The company’s quarterly revenue is up 23.5% from the same quarter last year. Equity research analysts predict Franchise Group, Inc. will post 3.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15. Shareholders of record on Thursday, July 1 will receive a dividend of $ 0.375 per share. The ex-dividend date for this dividend is Wednesday June 30. This represents an annualized dividend of $ 1.50 and a dividend yield of 4.11%. The Franchise Group’s dividend payout rate is currently 94.94%.
Several hedge funds and other institutional investors have recently changed their positions in RFA. Millennium Management LLC acquired a new stake in Franchise Group shares in the 1st quarter valued at approximately $ 1,807,000. Punch & Associates Investment Management Inc. increased its stake in Franchise Group shares by 49.7% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 547,611 shares of the company valued at $ 19,774,000 after acquiring an additional 181,907 shares during the last quarter. Verition Fund Management LLC increased its stake in Franchise Group shares by 85.8% in the 1st quarter. Verition Fund Management LLC now owns 28,534 shares of the company valued at $ 1,030,000 after acquiring an additional 13,178 shares in the last quarter. Morgan Stanley increased its stake in Franchise Group shares by 151.0% in the 1st quarter. Morgan Stanley now owns 49,939 shares of the company valued at $ 1,803,000 after acquiring an additional 30,042 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Franchise Group shares by 80.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 21,138 shares of the company valued at $ 763,000 after acquiring an additional 9,438 shares during the last quarter. Hedge funds and other institutional investors hold 46.65% of the company’s shares.
A number of analysts weighed on the title. Oppenheimer assumed coverage of Franchise Group shares in a research note on Tuesday, April 27. They set an “outperform” rating and a target price of $ 50.00 on the stock. B. Riley increased his target price on Franchise Group shares from $ 38.00 to $ 46.00 and gave the stock a “buy” rating in a research note on Thursday, March 11. DA Davidson raised his target price for Franchise Group shares from $ 40.00 to $ 49.00 and assigned the stock a “buy” rating in a research note on Thursday, March 11. Zacks Investment Research downgraded Franchise Group shares from a “hold” rating to a “buy” rating and set a price target of $ 41.00 on the stock in a research note on Tuesday, May 18. Finally, Barrington Research increased its price target on Franchise Group shares from $ 40.00 to $ 48.00 and assigned the stock an “outperformance” rating in a research note on Thursday, March 11. They noted that the move was an appraisal call. One analyst rated the stock with a conservation rating and six gave the stock a buy rating. The company currently has a consensus rating of “Buy” and an average price target of $ 43.86.
About the franchise group
Franchise Group, Inc. operates as a retailer, franchisor operator and acquirer of franchise and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy’s, Sears Outlet and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates option-to-buy rental stores that rent durable goods to customers, such as electronics, home furnishings, appliances and household accessories.
Featured Story: Asset Allocation
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured article: Learn more about the VIX – Volatility Index
7 cyclical stocks that can help you play defense
A cyclical stock is a stock that produces returns influenced by macroeconomic or systematic changes in the economy at large. In strong economic times, these stocks tend to show strong growth as they are influenced by discretionary consumer spending. Of course, this means that the opposite is also true. When the economy is weak, these stocks may retreat more than other stocks.
Cyclical stocks span many sectors, but travel and entertainment stocks spring to mind. Airlines, hotels and restaurants are all examples of cyclical industries that do well in times of economic growth, but are among the first to fall back in times of recession.
Why do cyclical stocks deserve a place in an investor’s portfolio? Believe it or not, that’s for the relative predictability they offer. Investors may like to speculate in growth stocks, but these are prone to bubbles. That’s not to say that cyclical stocks aren’t volatile, but they do offer a bit more predictable price movement.
In this special presentation, we take a look at cyclical stocks that look strong emerging from the pandemic. And some of those stocks have held up well during the pandemic, which means they’re starting from a more solid base.
Check out the “7 Cyclical Actions That Can Help You Play Defense.”