Binah Capital Group (NASDAQ:BCG) Releases Earnings Results

Binah Capital Group (NASDAQ:BCG) announced its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, FiscalAI reports. Binah Capital Group had a return on equity of 195.38% and a net margin of 2.17%. The firm had revenue of $50.56 million for the quarter.

Binah Capital Group Stock Up 8.7%

BCG traded up $0.10 during mid-day trading on Friday, reaching $1.20. 23,859 shares of the company traded hands, compared to its average volume of 193,284. The stock has a market capitalization of $20.40 million, a P/E ratio of 6.64 and a beta of 0.31. The company’s fifty day moving average price is $1.13 and its 200-day moving average price is $1.64. Binah Capital Group has a 52-week low of $0.95 and a 52-week high of $3.44.

Hedge Funds Weigh In On Binah Capital Group

A hedge fund recently bought a new stake in Binah Capital Group stock. Citadel Advisors LLC acquired a new position in Binah Capital Group, Inc. (NASDAQ:BCG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,395 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned 0.19% of Binah Capital Group at the end of the most recent reporting period. 4.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Binah Capital Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Binah Capital Group

Binah Capital Group, Inc. (NASDAQ: BCG) is a wealth management company that provides services and support to independent financial advisors and their clients in the United States. The company operates as a holding company for wealth management businesses serving individuals, families and institutions. Through its operating businesses, Binah Capital offers brokerage and investment advisory services, financial planning, retirement planning, insurance solutions and access to investment products. Its platform is designed to help independent advisors manage client relationships, develop practices and deliver portfolio and broader wealth management services.