Insider Buying: Heritage Global (NASDAQ:HGBL) Insider Acquires 26,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Nicholas Kirk Dove bought 26,000 shares of Heritage Global stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $1.22 per share, with a total value of $31,720.00. Following the completion of the acquisition, the insider directly owned 126,000 shares in the company, valued at approximately $153,720. The trade was a 26.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Heritage Global Stock Performance

Shares of NASDAQ HGBL traded up $0.04 during trading hours on Wednesday, reaching $1.25. The stock had a trading volume of 27,620 shares, compared to its average volume of 217,487. The firm has a 50-day moving average of $1.32 and a 200-day moving average of $1.32. The firm has a market cap of $43.42 million, a price-to-earnings ratio of 12.50 and a beta of 0.46. The company has a current ratio of 1.95, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. Heritage Global Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $2.32.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.The firm had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.49 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HGBL. Militia Capital Management LLC purchased a new position in Heritage Global during the first quarter worth about $767,000. Evernest Financial Advisors LLC acquired a new stake in Heritage Global in the first quarter valued at about $274,000. XTX Topco Ltd purchased a new stake in Heritage Global in the 4th quarter valued at approximately $31,000. Rothschild Wealth LLC purchased a new stake in Heritage Global in the 4th quarter valued at approximately $447,000. Finally, Mink Brook Asset Management LLC increased its position in Heritage Global by 7.8% during the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock worth $2,516,000 after purchasing an additional 146,622 shares during the period. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on HGBL shares. Lake Street Capital began coverage on shares of Heritage Global in a research report on Friday, March 13th. They issued a “buy” rating and a $4.50 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Heritage Global Company Profile

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.