Heritage Global (NASDAQ:HGBL) Insider Nicholas Kirk Dove Acquires 26,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Nicholas Kirk Dove purchased 26,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average price of $1.22 per share, for a total transaction of $31,720.00. Following the completion of the acquisition, the insider owned 126,000 shares of the company’s stock, valued at $153,720. The trade was a 26.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Heritage Global Stock Up 4.1%

Heritage Global stock opened at $1.26 on Thursday. Heritage Global Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $2.32. The stock has a market cap of $43.77 million, a PE ratio of 12.60 and a beta of 0.46. The firm’s 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.95.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.The firm had revenue of $12.73 million for the quarter, compared to analysts’ expectations of $13.49 million.

Institutional Trading of Heritage Global

Hedge funds have recently added to or reduced their stakes in the stock. Rothschild Wealth LLC bought a new stake in shares of Heritage Global in the fourth quarter valued at approximately $447,000. Mink Brook Asset Management LLC raised its position in shares of Heritage Global by 7.8% in the fourth 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 raised its position in shares of Heritage Global by 196.2% in the fourth quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after purchasing an additional 19,642 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Heritage Global by 29.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock valued at $62,000 after purchasing an additional 11,512 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in shares of Heritage Global in the third quarter valued at approximately $71,000. Institutional investors own 33.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on HGBL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Heritage Global in a report on Friday, March 27th. Lake Street Capital began coverage on shares of Heritage Global in a research report on Friday, March 13th. They issued a “buy” rating and a $4.50 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.50.

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.