B. Riley Financial (NASDAQ:RILY) Releases Quarterly Earnings Results

B. Riley Financial (NASDAQ:RILY) released its earnings results on Wednesday. The asset manager reported $2.97 EPS for the quarter, Zacks reports.

B. Riley Financial Trading Up 1.3%

RILY stock traded up $0.10 during trading on Wednesday, hitting $7.54. 1,003,889 shares of the stock traded hands, compared to its average volume of 1,190,431. The company has a 50 day simple moving average of $4.89 and a 200 day simple moving average of $5.27. B. Riley Financial has a one year low of $2.67 and a one year high of $8.28. The stock has a market cap of $230.72 million, a price-to-earnings ratio of -1.44 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Soviero Asset Management LP bought a new stake in shares of B. Riley Financial during the third quarter worth about $2,211,000. Two Sigma Investments LP boosted its position in B. Riley Financial by 551.3% during the 3rd quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock worth $1,016,000 after buying an additional 143,877 shares during the period. Millennium Management LLC grew its holdings in B. Riley Financial by 51.3% during the 3rd quarter. Millennium Management LLC now owns 367,984 shares of the asset manager’s stock worth $2,199,000 after acquiring an additional 124,762 shares during the last quarter. Federated Hermes Inc. increased its position in B. Riley Financial by 78.0% in the 2nd quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager’s stock valued at $534,000 after acquiring an additional 78,847 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of B. Riley Financial during the second quarter valued at $154,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RILY shares. Wall Street Zen raised B. Riley Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

About B. Riley Financial

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.