Heritage Global (NASDAQ:HGBL) Insider Bruce Kenneth Hounsell Purchases 10,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Bruce Kenneth Hounsell acquired 10,000 shares of Heritage Global stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $1.14 per share, for a total transaction of $11,400.00. Following the completion of the transaction, the insider owned 10,000 shares in the company, valued at approximately $11,400. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Global Stock Performance

Heritage Global stock opened at $1.17 on Tuesday. The stock’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.69. The stock has a market cap of $40.65 million, a price-to-earnings ratio of -2.85 and a beta of 0.45. Heritage Global Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $1.98.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HGBL shares. Lake Street Capital decreased their target price 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. Weiss Ratings upgraded Heritage Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Evergreen Capital Management LLC purchased a new position in shares of Heritage Global during the second quarter valued at about $26,000. Virtu Financial LLC purchased a new stake in shares of Heritage Global in the third quarter worth about $28,000. XTX Topco Ltd purchased a new stake in shares of Heritage Global in the fourth quarter worth about $31,000. Jane Street Group LLC boosted its stake in Heritage Global by 196.2% during the fourth quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after buying an additional 19,642 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Heritage Global during the third quarter valued at approximately $71,000. Hedge funds and other institutional investors own 33.46% of the company’s stock.

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.