Shares of B. Riley Financial Inc. (NASDAQ:RILY) reached a new 52-week high and low on Wednesday . The company traded as low as $20.40 and last traded at $20.26, with a volume of 32239 shares changing hands. The stock had previously closed at $19.95.
Separately, BidaskClub upgraded shares of B. Riley Financial from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th.
The firm has a market cap of $545.55, a price-to-earnings ratio of 14.50 and a beta of 0.82. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 3.79.
B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Wednesday, March 7th. The asset manager reported $0.37 earnings per share for the quarter. B. Riley Financial had a net margin of 3.59% and a return on equity of 14.37%. The business had revenue of $110.18 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 20th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, March 19th.
B. Riley Financial announced that its board has authorized a share repurchase plan on Monday, March 19th that permits the company to repurchase $17.30 million in outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through a private placement purchase. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, Chairman Bryant R. Riley bought 221,181 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $4,036,553.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Bryant R. Riley bought 7,200 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average price of $18.65 per share, with a total value of $134,280.00. The disclosure for this purchase can be found here. 30.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in RILY. NWQ Investment Management Company LLC boosted its stake in B. Riley Financial by 42.4% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,010,923 shares of the asset manager’s stock worth $18,298,000 after purchasing an additional 301,059 shares in the last quarter. Royce & Associates LP boosted its stake in B. Riley Financial by 88.7% in the 4th quarter. Royce & Associates LP now owns 527,495 shares of the asset manager’s stock worth $9,548,000 after purchasing an additional 247,955 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 worth $1,923,000 after purchasing an additional 100,471 shares in the last quarter. Nokomis Capital L.L.C. boosted its stake in B. Riley Financial by 6.9% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,352,084 shares of the asset manager’s stock worth $24,473,000 after purchasing an additional 87,094 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in B. Riley Financial in the 4th quarter worth approximately $604,000. Institutional investors own 46.98% of the company’s stock.
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About B. Riley Financial
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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