Heritage Global Inc. (NASDAQ:HGBL) Sees Large Growth in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 28,400 shares, a growth of 17.4% from the December 15th total of 24,200 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 68,600 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. acquired a new position in Heritage Global during the 3rd quarter worth $1,801,000. Dimensional Fund Advisors LP raised its position in shares of Heritage Global by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after acquiring an additional 47,375 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Heritage Global by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after acquiring an additional 7,842 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Heritage Global by 53.2% during the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after acquiring an additional 10,068 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Heritage Global during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 33.46% of the company’s stock.

Heritage Global Stock Down 1.9 %

NASDAQ:HGBL traded down $0.04 during trading hours on Friday, hitting $2.03. 31,251 shares of the stock were exchanged, compared to its average volume of 87,607. The company’s 50 day moving average is $1.77 and its two-hundred day moving average is $1.87. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.09. The company has a market capitalization of $75.80 million, a P/E ratio of 7.25 and a beta of 1.16.

About Heritage Global

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.