B. Riley Financial, Inc. (NASDAQ:RILY) shares traded up 9.4% on Wednesday following insider buying activity. The company traded as high as $52.29 and last traded at $51.05. 970,714 shares changed hands during trading, an increase of 295% from the average session volume of 245,864 shares. The stock had previously closed at $46.68.
Specifically, President Kenneth M. Young acquired 1,600 shares of B. Riley Financial stock in a transaction on Wednesday, January 13th. The shares were bought at an average price of $46.00 per share, with a total value of $73,600.00. Following the completion of the purchase, the president now owns 141,611 shares in the company, valued at $6,514,106. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bryant R. Riley purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, January 13th. The shares were purchased at an average cost of $46.00 per share, for a total transaction of $4,600,000.00. Following the purchase, the chief executive officer now directly owns 273,804 shares of the company’s stock, valued at $12,594,984. The disclosure for this purchase can be found here. In the last three months, insiders acquired 226,600 shares of company stock worth $8,287,150. Insiders own 26.20% of the company’s stock.
Separately, BidaskClub raised B. Riley Financial from a “hold” rating to a “buy” rating in a research note on Friday, November 6th.
The company has a debt-to-equity ratio of 5.07, a current ratio of 5.31 and a quick ratio of 5.31. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 48.69 and a beta of 0.96. The firm has a 50 day moving average price of $40.04 and a 200-day moving average price of $29.41.
B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings results on Thursday, October 29th. The asset manager reported $1.92 earnings per share (EPS) for the quarter. The firm had revenue of $226.25 million for the quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in B. Riley Financial by 607.3% in the second quarter. Bank of Montreal Can now owns 1,641 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 1,409 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in B. Riley Financial in the second quarter valued at about $63,000. BNP Paribas Arbitrage SA increased its holdings in B. Riley Financial by 512.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,557 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 3,813 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in B. Riley Financial by 558.5% in the third quarter. Great West Life Assurance Co. Can now owns 7,764 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 6,585 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in B. Riley Financial in the third quarter valued at about $242,000. Institutional investors and hedge funds own 45.79% of the company’s stock.
About B. Riley Financial (NASDAQ:RILY)
B. Riley Financial, Inc, through its subsidiaries, provides collaborative financial services and solutions in North America, Australia, and Europe. The Capital Markets segments offers range of investment banking, corporate finance, consulting, financial advisory, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.
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