Heritage Global (NASDAQ:HGBL) Stock: Insider William Burnham Acquires 300,000 Shares

Heritage Global Inc. (NASDAQ:HGBL) Director William Burnham purchased 300,000 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was bought at an average cost of $1.33 per share, with a total value of $399,000.00. Following the completion of the acquisition, the director directly owned 300,000 shares of the company’s stock, valued at $399,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Heritage Global Stock Performance

Heritage Global stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.30. The company had a trading volume of 67,103 shares, compared to its average volume of 192,392. The company has a market capitalization of $45.03 million, a price-to-earnings ratio of -3.17 and a beta of 0.46. Heritage Global Inc. has a 12-month low of $1.01 and a 12-month high of $1.72. The company’s fifty day moving average is $1.23 and its 200-day moving average is $1.27. The company has a current ratio of 1.69, a quick ratio of 1.29 and a debt-to-equity ratio of 0.08.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Lake Street Capital decreased their price objective on shares of Heritage Global from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Weiss Ratings upgraded Heritage Global from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Militia Capital Management LLC acquired a new stake in Heritage Global in the 1st quarter valued at $767,000. Punch & Associates Investment Management Inc. acquired a new position in Heritage Global during the second quarter worth $2,446,000. BlackRock Inc. acquired a new position in Heritage Global during the second quarter worth $204,000. Finally, Evernest Financial Advisors LLC purchased a new position in Heritage Global during the first quarter valued at $274,000. 33.46% of the stock is owned by institutional investors and hedge funds.

About Heritage Global

Heritage Global, Inc (NASDAQ:HGBL) is an asset services company that helps businesses, lenders, governments and other organizations monetize surplus, specialized and distressed assets. Through its operating subsidiaries, the company provides auction, liquidation, brokerage, valuation and advisory services for industrial, commercial and financial assets.

Heritage Global’s services include live and online auctions, negotiated sales, asset appraisals, valuations, inventory management and other capital-recovery solutions.