Heritage Global (NASDAQ:HGBL) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Heritage Global (NASDAQ:HGBL) issued its earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04), FiscalAI reports. The company had revenue of $11.86 million during the quarter, compared to analyst estimates of $12.89 million. Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.

Heritage Global Stock Down 1.6%

Shares of HGBL traded down $0.02 during trading hours on Thursday, reaching $1.23. The company’s stock had a trading volume of 48,082 shares, compared to its average volume of 361,966. The firm has a market cap of $42.73 million, a price-to-earnings ratio of 13.67 and a beta of 0.51. Heritage Global has a 1-year low of $1.21 and a 1-year high of $2.39. The company has a quick ratio of 1.89, a current ratio of 2.29 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $1.33 and a two-hundred day moving average of $1.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in Heritage Global during the fourth quarter worth $31,000. Rothschild Wealth LLC bought a new stake in Heritage Global during the fourth quarter valued at about $447,000. Mink Brook Asset Management LLC boosted its holdings in Heritage Global by 7.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after purchasing an additional 146,622 shares during the period. Jane Street Group LLC grew its holdings in shares of Heritage Global by 196.2% during the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock worth $37,000 after purchasing an additional 19,642 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Heritage Global by 29.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock worth $62,000 after purchasing an additional 11,512 shares in the last quarter. 33.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.00.

About Heritage Global

Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.

The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.