Stock Traders Purchase Large Volume of B. Riley Financial Call Options (NASDAQ:RILY)

B. Riley Financial, Inc. (NASDAQ:RILY) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 21,615 call options on the stock. This represents an increase of 46% compared to the typical daily volume of 14,813 call options.

Analysts Set New Price Targets

RILY has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a research note on Monday, December 29th. Wall Street Zen lowered shares of B. Riley Financial from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, B. Riley Financial currently has an average rating of “Sell”.

B. Riley Financial Price Performance

RILY traded down $0.36 during trading on Friday, hitting $6.79. The stock had a trading volume of 792,608 shares, compared to its average volume of 848,938. The company has a 50 day moving average price of $7.58 and a 200-day moving average price of $6.18. B. Riley Financial has a one year low of $2.67 and a one year high of $10.97. The firm has a market cap of $211.98 million, a price-to-earnings ratio of 0.96 and a beta of 1.27.

B. Riley Financial (NASDAQ:RILY) last posted its quarterly earnings data on Wednesday, January 14th. The asset manager reported $2.91 earnings per share for the quarter. The firm had revenue of $75.70 million for the quarter.

Institutional Trading of B. Riley Financial

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of B. Riley Financial by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 194,105 shares of the asset manager’s stock valued at $907,000 after purchasing an additional 1,886 shares during the period. XTX Topco Ltd grew its stake in B. Riley Financial by 4.2% during the second quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,531 shares during the period. Farther Finance Advisors LLC acquired a new stake in B. Riley Financial during the third quarter worth approximately $25,000. Bank of America Corp DE increased its holdings in B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after purchasing an additional 4,898 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in B. Riley Financial by 70.0% in the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock worth $51,000 after purchasing an additional 7,044 shares in the last quarter. Institutional investors own 50.20% of the company’s stock.

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.