B. Riley Financial Inc (NASDAQ:RILY) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 468,700 shares, a growth of 22.0% from the July 31st total of 384,100 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 44,300 shares, the days-to-cover ratio is presently 10.6 days.
Several equities research analysts recently weighed in on RILY shares. BidaskClub raised B. Riley Financial from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th. ValuEngine raised B. Riley Financial from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th.
In other news, Chairman Bryant R. Riley acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $20.34 per share, with a total value of $406,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RILY. Heartland Advisors Inc. acquired a new stake in B. Riley Financial in the second quarter valued at $3,367,000. Punch & Associates Investment Management Inc. increased its position in shares of B. Riley Financial by 8.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,520,576 shares of the asset manager’s stock valued at $25,378,000 after buying an additional 123,180 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of B. Riley Financial by 37.2% in the second quarter. Russell Investments Group Ltd. now owns 436,792 shares of the asset manager’s stock valued at $9,107,000 after buying an additional 118,401 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in shares of B. Riley Financial in the first quarter valued at $789,000. Finally, BlackRock Inc. increased its position in shares of B. Riley Financial by 3.0% in the second quarter. BlackRock Inc. now owns 1,264,168 shares of the asset manager’s stock valued at $26,371,000 after buying an additional 37,412 shares in the last quarter. 46.68% of the stock is owned by institutional investors.
Shares of NASDAQ RILY traded up $0.15 during mid-day trading on Friday, hitting $23.47. 1,448 shares of the company were exchanged, compared to its average volume of 45,347. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 5.37. The stock has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $19.17. B. Riley Financial has a 1-year low of $13.60 and a 1-year high of $23.42. The firm has a market cap of $617.51 million, a price-to-earnings ratio of 14.22 and a beta of 0.86.
B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings results on Thursday, August 1st. The asset manager reported $0.96 earnings per share for the quarter. B. Riley Financial had a return on equity of 16.21% and a net margin of 4.76%. The firm had revenue of $164.68 million during the quarter.
The business also recently declared a None dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 14th.
About B. Riley Financial
B. Riley Financial, Inc, through its subsidiaries, provides collaborative financial services and solutions in North America, Australia, and Europe. The company operates in four segments: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments – United Online and magicJack.
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