FRS filed a registration with SEC permitting sale of 800,000 shares of new stock. If this means high beef prices are hurting cash flow at Golden Corral, a bad sign. If it means they have decided to expand Big Boy, a good sign, but is that wishful thinking? Certainly, no hint of it in CC. Anyone out there?
Thanks for the heads up. Where did you see this announcement? Who is the underwriter? With insiders now owning 42% of 5million shares and another 35% owned by institutions, in would not be bad if float were increased by 800,000 shares, especially if accompanied by a roadshow to the usual cities. I am hopeful that a roadshow would make apparent possible eps this fy of $2.40-$2.50. I think the stock will lift from here to $35 or better by June.