Added to YB: 2023-12-18
Pitch date: 2023-12-11
RILY [bearish]
BRC Group Holdings, Inc.
+58.59%
current return
Author Info
Company Info
BRC Group Holdings, Inc., through its subsidiaries, provides financial services in North America, Australia, Europe, the Middle East, Africa, Asia, and Latin America.
Market Cap
$305.5M
Pitch Price
$24.53
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
0.59
EV/Sales
N/A
Sector
Capital Markets
Category
special_situation
B. Riley Analyst Day Questions
RILY embroiled in questionable Kahn dealings: Mispriced loans, undisclosed support, inappropriate transfers alleged. Evidence suggests Riley's prior knowledge of Kahn's fraud in Prophecy case; $30M fronted for B&W rescue may be money laundering. Auditors Deloitte & Marcum implicated. Scrutiny over distressed loan handling, shuffling impaired loans to avoid markdowns. Bankruptcy of Nogin & Justice tied to inventory stuffing & unsustainable brand dividends. Financial position compromised; audit risks & need for investigation.
Read full article (9 min)