Heritage Global (NASDAQ:HGBL) CEO Sells $399,000.00 in Stock

Heritage Global Inc. (NASDAQ:HGBL) CEO Ross Dove sold 300,000 shares of Heritage Global stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $1.33, for a total transaction of $399,000.00. Following the completion of the transaction, the chief executive officer owned 2,021,917 shares of the company’s stock, valued at $2,689,149.61. The trade was a 12.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Heritage Global Trading Down 3.1%

Shares of HGBL stock opened at $1.26 on Friday. The stock has a market capitalization of $43.65 million, a price-to-earnings ratio of -3.07 and a beta of 0.45. The company’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.27. Heritage Global Inc. has a 1 year low of $1.01 and a 1 year high of $1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.29.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The company had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $13.29 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Militia Capital Management LLC bought a new position in shares of Heritage Global in the first quarter worth approximately $767,000. Punch & Associates Investment Management Inc. bought a new stake in Heritage Global during the second quarter valued at approximately $2,446,000. BlackRock Inc. purchased a new position in Heritage Global in the 2nd quarter worth approximately $204,000. Finally, Evernest Financial Advisors LLC purchased a new position in Heritage Global in the first quarter worth $274,000. Hedge funds and other institutional investors own 33.46% of the company’s stock.

Analysts Set New Price Targets

HGBL has been the topic of several analyst reports. Weiss Ratings upgraded Heritage Global from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Lake Street Capital reduced their price objective on shares of Heritage Global from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Heritage Global currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Heritage Global Company Profile

Heritage Global, Inc (NASDAQ:HGBL) is an asset services company that helps businesses, lenders, governments and other organizations monetize surplus, specialized and distressed assets. Through its operating subsidiaries, the company provides auction, liquidation, brokerage, valuation and advisory services for industrial, commercial and financial assets.

Heritage Global’s services include live and online auctions, negotiated sales, asset appraisals, valuations, inventory management and other capital-recovery solutions.