Added to YB: 2023-12-18
Pitch date: 2023-12-11
RILY [bearish]
BRC Group Holdings, Inc.
+72.16%
current return
Author Info
Company Info
BRC Group Holdings, Inc., through its subsidiaries, provides financial services in North America, Australia, the Asia Pacific, and Europe.
Market Cap
$208.7M
Pitch Price
$24.53
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-2.27
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)