B. Riley Financial (NASDAQ:RILY) Posts Earnings Results

B. Riley Financial (NASDAQ:RILY) announced its earnings results on Monday. The asset manager reported $0.77 earnings per share for the quarter, Zacks reports.

B. Riley Financial Trading Down 6.1%

RILY stock traded down $0.24 during midday trading on Monday, reaching $3.72. The stock had a trading volume of 1,452,397 shares, compared to its average volume of 1,225,573. B. Riley Financial has a 52-week low of $2.67 and a 52-week high of $7.90. The company’s fifty day simple moving average is $4.92 and its 200 day simple moving average is $4.90. The company has a market cap of $113.82 million, a price-to-earnings ratio of -0.15 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On B. Riley Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in B. Riley Financial by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 851,840 shares of the asset manager’s stock worth $5,090,000 after purchasing an additional 10,189 shares in the last quarter. Soviero Asset Management LP acquired a new stake in shares of B. Riley Financial in the third quarter valued at approximately $2,211,000. Millennium Management LLC lifted its position in B. Riley Financial by 51.3% during the third quarter. Millennium Management LLC now owns 367,984 shares of the asset manager’s stock worth $2,199,000 after buying an additional 124,762 shares in the last quarter. Federated Hermes Inc. boosted its stake in B. Riley Financial by 78.0% during the second quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager’s stock worth $534,000 after buying an additional 78,847 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in B. Riley Financial by 551.3% in the 3rd quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock valued at $1,016,000 after buying an additional 143,877 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

B. Riley Financial Company Profile

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.