Heritage Global (NASDAQ:HGBL) Shares Down 1.6% – Should You Sell?

Heritage Global Inc. (NASDAQ:HGBL) fell 1.6% during trading on Thursday . The company traded as low as $1.2450 and last traded at $1.25. Approximately 55,533 shares traded hands during trading, an increase of 5% from the average session volume of 53,042 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a research note on Friday, March 27th. Lake Street Capital assumed coverage on Heritage Global in a report on Friday, March 13th. They issued a “buy” rating and a $4.50 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Heritage Global Stock Performance

The stock has a market capitalization of $43.42 million, a PE ratio of 12.50 and a beta of 0.42. The company’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $1.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.95 and a quick ratio of 1.51.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $12.73 million for the quarter, compared to analysts’ expectations of $13.49 million. Heritage Global had a net margin of 6.45% and a return on equity of 4.86%.

Insider Buying and Selling at Heritage Global

In related news, insider Nicholas Kirk Dove purchased 26,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $1.22 per share, for a total transaction of $31,720.00. Following the completion of the transaction, the insider directly owned 126,000 shares of the company’s stock, valued at approximately $153,720. This trade represents a 26.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Heritage Global in the 3rd quarter valued at $28,000. Goldman Sachs Group Inc. raised its holdings in shares of Heritage Global by 29.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock worth $62,000 after acquiring an additional 11,512 shares during the period. Evergreen Capital Management LLC purchased a new position in Heritage Global during the second quarter worth about $26,000. Susquehanna International Group LLP acquired a new position in shares of Heritage Global in the 3rd quarter valued at $71,000. Finally, Mink Brook Asset Management LLC lifted its holdings in shares of Heritage Global by 7.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock worth $2,516,000 after acquiring an additional 146,622 shares during the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

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.