Insider Buying: Heritage Global (NASDAQ:HGBL) Director Buys 300,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) Director William Burnham acquired 300,000 shares of the business’s stock in a transaction on Friday, September 25th. The shares were purchased at an average price of $1.33 per share, for a total transaction of $399,000.00. Following the transaction, the director directly owned 300,000 shares of the company’s stock, valued at approximately $399,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Heritage Global Trading Down 0.8%

Heritage Global stock traded down $0.01 during midday trading on Tuesday, reaching $1.30. The stock had a trading volume of 67,103 shares, compared to its average volume of 192,392. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.08. The firm has a market cap of $45.03 million, a price-to-earnings ratio of -3.17 and a beta of 0.46. Heritage Global Inc. has a 52-week low of $1.01 and a 52-week high of $1.72. The company has a fifty day moving average of $1.23 and a 200 day moving average of $1.27.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The company had revenue of $12.27 million for the quarter, compared to analysts’ expectations of $13.29 million.

Hedge Funds Weigh In On Heritage Global

Several hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. purchased a new stake in Heritage Global in the second quarter valued at $2,446,000. Militia Capital Management LLC purchased a new position in shares of Heritage Global during the 1st quarter valued at about $767,000. Evernest Financial Advisors LLC acquired a new position in shares of Heritage Global in the 1st quarter valued at about $274,000. Finally, BlackRock Inc. acquired a new position in shares of Heritage Global in the 2nd quarter valued at about $204,000. 33.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Heritage Global from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Lake Street Capital decreased their price objective on shares of Heritage Global from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

Heritage Global Company Profile

Heritage Global, Inc (NASDAQ:HGBL) is an asset services company that helps businesses, lenders, governments and other organizations monetize surplus, specialized and distressed assets. Through its operating subsidiaries, the company provides auction, liquidation, brokerage, valuation and advisory services for industrial, commercial and financial assets.

Heritage Global’s services include live and online auctions, negotiated sales, asset appraisals, valuations, inventory management and other capital-recovery solutions.