Lapides Asset Management LLC Buys 38,600 Shares of Franklin Covey Co. (NYSE:FC)

Lapides Asset Management LLC lifted its stake in Franklin Covey Co. (NYSE:FC) by 37.0% in the second quarter, Holdings Channel.com reports. The fund owned 142,800 shares of the business services provider’s stock after purchasing an additional 38,600 shares during the period. Franklin Covey makes up approximately 1.8% of Lapides Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Lapides Asset Management LLC’s holdings in Franklin Covey were worth $3,056,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Franklin Covey by 106.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,023 shares of the business services provider’s stock valued at $47,000 after buying an additional 1,561 shares during the period. Citigroup Inc. boosted its stake in Franklin Covey by 26.0% during the first quarter. Citigroup Inc. now owns 3,508 shares of the business services provider’s stock valued at $55,000 after buying an additional 724 shares during the period. Victory Capital Management Inc. boosted its stake in Franklin Covey by 68.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,876 shares of the business services provider’s stock valued at $93,000 after buying an additional 1,166 shares during the period. KBC Group NV boosted its stake in Franklin Covey by 199.6% during the first quarter. KBC Group NV now owns 7,382 shares of the business services provider’s stock valued at $115,000 after buying an additional 4,918 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Franklin Covey during the second quarter valued at $146,000. 61.31% of the stock is owned by hedge funds and other institutional investors.

FC has been the subject of several research analyst reports. B. Riley dropped their price objective on Franklin Covey from $30.00 to $25.00 in a research note on Friday, July 10th. Zacks Investment Research downgraded Franklin Covey from a “hold” rating to a “sell” rating in a research report on Tuesday, July 14th. ValuEngine upgraded Franklin Covey from a “hold” rating to a “buy” rating in a research report on Thursday, April 9th. Finally, Barrington Research restated a “buy” rating and set a $25.00 price target on shares of Franklin Covey in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.00.

NYSE FC traded down $0.25 during trading hours on Friday, reaching $18.09. 90,142 shares of the stock traded hands, compared to its average volume of 156,419. The stock has a 50 day simple moving average of $20.33 and a two-hundred day simple moving average of $23.43. Franklin Covey Co. has a 1 year low of $12.61 and a 1 year high of $41.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.14 and a quick ratio of 1.11. The company has a market cap of $251.05 million, a price-to-earnings ratio of -53.20 and a beta of 1.56.

Franklin Covey (NYSE:FC) last released its quarterly earnings data on Thursday, July 9th. The business services provider reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.49). The company had revenue of $37.11 million during the quarter, compared to analysts’ expectations of $48.88 million. Franklin Covey had a positive return on equity of 7.66% and a negative net margin of 2.12%. On average, sell-side analysts forecast that Franklin Covey Co. will post -0.23 EPS for the current fiscal year.

In other news, Director Esther Kay Stepp sold 4,000 shares of Franklin Covey stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $19.80, for a total value of $79,200.00. Following the transaction, the director now owns 35,429 shares in the company, valued at $701,494.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Fung acquired 4,830 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $20.77 per share, for a total transaction of $100,319.10. Following the acquisition, the director now owns 40,353 shares of the company’s stock, valued at approximately $838,131.81. The disclosure for this purchase can be found here. 33.20% of the stock is currently owned by insiders.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of leadership, productivity, strategic execution, trust, sales force performance, customer loyalty, and communication effectiveness skills for organizations and individuals worldwide. The company operates through three segments: Direct Offices, Education Practice, and International Licensees.

Featured Article: Why is momentum important to successful trading?

Want to see what other hedge funds are holding FC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Covey Co. (NYSE:FC).

Institutional Ownership by Quarter for Franklin Covey (NYSE:FC)

Receive News & Ratings for Franklin Covey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Covey and related companies with MarketBeat.com's FREE daily email newsletter.