Top 5 Stock Picks of Cannell Capital

2. Franchise Group, Inc. (NASDAQ:FRG)

Cannell Capital’s Stake Value: $33,507,000
Percentage of Cannell Capital’s Portfolio: 5.06%
Number of Hedge Fund Holders: 21

Franchise Group, Inc. (NASDAQ:FRG) owns and runs companies open to franchise opportunities. Its six operational sectors are Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy’s, and Sylvan. Securities filings show that Cannell Capital owned 808,762 shares of Franchise Group, Inc. (NASDAQ:FRG) at the end of March 2022, worth $33.51 million, representing 5.06% of the portfolio. In addition, the hedge fund boosted its stake in the company by 32%.

On July 5, Baird analyst Mark Altschwager reiterated an Outperform rating on the shares of Franchise Group, Inc. (NASDAQ:FRG) while lowering her price objective to $42 from $53. The expert noted that negotiations between Kohl’s Corporation (NYSE:KSS) and the winning bidder, Franchise Group, Inc. (NASDAQ:FRG), fell apart. He also decreased his projections and price goal due to the buyout being off the table and a worsening retail environment.

21 of the 912 hedge funds had positions in Franchise Group, Inc. (NASDAQ:FRG) as of the first quarter of 2022, worth $180 million, compared to the same number of funds in the preceding quarter holding stakes in Franchise Group, Inc. (NASDAQ:FRG) worth $215.60 million.