B. Riley Financial Inc. (NASDAQ:RILY)’s share price reached a new 52-week high and low during trading on Wednesday . The company traded as low as $20.40 and last traded at $20.26, with a volume of 32239 shares. The stock had previously closed at $19.95.
Separately, BidaskClub upgraded B. Riley Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th.
The company has a debt-to-equity ratio of 3.79, a current ratio of 3.61 and a quick ratio of 3.61. The company has a market capitalization of $528.21, a P/E ratio of 14.04 and a beta of 0.82.
B. Riley Financial (NASDAQ:RILY) last posted its quarterly earnings data on Wednesday, March 7th. The asset manager reported $0.37 EPS for the quarter. The business had revenue of $110.18 million for the quarter. B. Riley Financial had a return on equity of 14.37% and a net margin of 3.59%.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 20th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.56%.
B. Riley Financial declared that its board has approved a share repurchase program on Monday, March 19th that allows the company to repurchase $17.30 million in outstanding shares. This repurchase authorization allows the asset manager to purchase shares of its stock through a private placement purchase. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other B. Riley Financial news, Chairman Bryant R. Riley acquired 7,200 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $18.65 per share, for a total transaction of $134,280.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bryant R. Riley acquired 221,181 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $4,036,553.25. The disclosure for this purchase can be found here. Insiders own 30.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. LSV Asset Management increased its stake in B. Riley Financial by 27.8% during the fourth quarter. LSV Asset Management now owns 14,700 shares of the asset manager’s stock valued at $266,000 after acquiring an additional 3,200 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in B. Riley Financial by 110.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 4,000 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in B. Riley Financial by 15.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,710 shares of the asset manager’s stock valued at $683,000 after acquiring an additional 5,004 shares during the period. American International Group Inc. increased its stake in B. Riley Financial by 65.4% during the third quarter. American International Group Inc. now owns 14,024 shares of the asset manager’s stock valued at $239,000 after acquiring an additional 5,545 shares during the period. Finally, SG Americas Securities LLC bought a new position in B. Riley Financial during the third quarter valued at about $116,000. Hedge funds and other institutional investors own 46.98% of the company’s stock.
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B. Riley Financial Company Profile
B. Riley Financial, Inc provides financial services and solutions in North America, Australia, and Europe. The company operates in four segments: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments – United Online. It offers investment banking services, including merger and acquisitions, restructuring advisory, initial and secondary public offerings, and institutional private placements; and corporate finance, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.
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