Bryant R. Riley Acquires 7,200 Shares of B. Riley Financial Inc. (RILY) Stock

B. Riley Financial Inc. (NASDAQ:RILY) Chairman Bryant R. Riley acquired 7,200 shares of the stock in a transaction dated Tuesday, March 13th. The shares were purchased at an average price of $18.65 per share, for a total transaction of $134,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of RILY traded down $0.35 on Friday, reaching $19.20. 67,330 shares of the stock traded hands, compared to its average volume of 85,176. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 3.79. The stock has a market cap of $512.20, a PE ratio of 13.62 and a beta of 0.82. B. Riley Financial Inc. has a 12 month low of $13.55 and a 12 month high of $20.35.

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B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings results on Wednesday, March 7th. The asset manager reported $0.37 EPS for the quarter. The business had revenue of $110.18 million for the quarter. B. Riley Financial had a return on equity of 14.37% and a net margin of 3.59%.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Tuesday, March 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 19th.

B. Riley Financial announced that its Board of Directors has approved a stock buyback plan on Monday, March 19th that authorizes the company to repurchase $17.30 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through a private placement purchase. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Separately, BidaskClub cut B. Riley Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th.

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in B. Riley Financial by 29.6% in the 2nd quarter. California State Teachers Retirement System now owns 24,216 shares of the asset manager’s stock valued at $449,000 after buying an additional 5,530 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in B. Riley Financial in the 3rd quarter valued at $3,342,000. State Street Corp boosted its stake in B. Riley Financial by 92.6% in the 2nd quarter. State Street Corp now owns 209,692 shares of the asset manager’s stock valued at $3,889,000 after buying an additional 100,833 shares in the last quarter. Wells Fargo & Company MN boosted its stake in B. Riley Financial by 814.7% in the 3rd quarter. Wells Fargo & Company MN now owns 112,804 shares of the asset manager’s stock valued at $1,923,000 after buying an additional 100,471 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new stake in B. Riley Financial in the 2nd quarter valued at $625,000. 47.05% of the stock is currently owned by institutional investors and hedge funds.

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B. Riley Financial Company Profile

B. Riley Financial, Inc provides financial services and solutions in North America, Australia, and Europe. The company operates in four segments: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments – United Online. It offers investment banking services, including merger and acquisitions, restructuring advisory, initial and secondary public offerings, and institutional private placements; and corporate finance, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.

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