B. Riley Financial Sees Unusually High Options Volume (NASDAQ:RILY)

B. Riley Financial, Inc. (NASDAQ:RILY) was the recipient of some unusual options trading activity on Thursday. Investors purchased 24,182 call options on the company. This is an increase of approximately 83% compared to the average daily volume of 13,219 call options.

Hedge Funds Weigh In On B. Riley Financial

Hedge funds have recently made changes to their positions in the company. Magnus Financial Group LLC acquired a new stake in B. Riley Financial in the fourth quarter valued at about $47,000. Millennium Management LLC raised its position in B. Riley Financial by 51.3% in the third quarter. Millennium Management LLC now owns 367,984 shares of the asset manager’s stock worth $2,199,000 after acquiring an additional 124,762 shares in the last quarter. Bank of America Corp DE boosted its position in shares of B. Riley Financial by 237.2% during the 3rd quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after purchasing an additional 4,898 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of B. Riley Financial by 237.4% during the 3rd quarter. Brooklyn Investment Group now owns 30,792 shares of the asset manager’s stock worth $184,000 after purchasing an additional 21,665 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of B. Riley Financial by 551.3% in the third quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock valued at $1,016,000 after purchasing an additional 143,877 shares during the period. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of B. Riley Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

B. Riley Financial Trading Up 13.8%

Shares of RILY stock traded up $0.85 on Thursday, reaching $6.97. 880,133 shares of the stock were exchanged, compared to its average volume of 739,611. B. Riley Financial has a twelve month low of $2.67 and a twelve month high of $7.90. The company has a market capitalization of $213.13 million, a price-to-earnings ratio of -1.33 and a beta of 1.24. The business’s 50 day moving average price is $4.68 and its 200 day moving average price is $5.13.

B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings results on Thursday, March 16th. The asset manager reported $2.70 earnings per share (EPS) for the quarter. The business had revenue of $345.47 million during the quarter.

About B. Riley Financial

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.