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

B. Riley Financial (NASDAQ:RILY) issued its quarterly earnings results on Wednesday. The asset manager reported $2.77 EPS for the quarter, FiscalAI reports. The business had revenue of $224.67 million for the quarter.

B. Riley Financial Price Performance

NASDAQ:RILY opened at $6.80 on Friday. The firm’s 50-day moving average price is $7.39 and its 200-day moving average price is $6.21. B. Riley Financial has a 1-year low of $2.67 and a 1-year high of $10.97. The company has a market capitalization of $239.02 million, a PE ratio of 0.69 and a beta of 1.20.

Institutional Trading of B. Riley Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH purchased a new stake in shares of B. Riley Financial during the 3rd quarter valued at about $1,087,000. 683 Capital Management LLC purchased a new stake in shares of B. Riley Financial during the fourth quarter worth about $374,000. Wells Fargo & Company MN raised its position in shares of B. Riley Financial by 1,200,020.0% during the fourth quarter. Wells Fargo & Company MN now owns 60,006 shares of the asset manager’s stock valued at $280,000 after buying an additional 60,001 shares during the last quarter. XTX Topco Ltd increased its holdings in B. Riley Financial by 4.2% in the 2nd quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 2,531 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in B. Riley Financial by 237.4% during the third quarter. Brooklyn Investment Group now owns 30,792 shares of the asset manager’s stock valued at $184,000 after buying an additional 21,665 shares during the last quarter. 50.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RILY. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. Wall Street Zen cut 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 data from MarketBeat, the stock 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.