Heritage Global (NASDAQ:HGBL) Stock: Insider Ross Dove Sells 300,000 Shares

Heritage Global Inc. (NASDAQ:HGBL) CEO Ross Dove sold 300,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $1.33, for a total value of $399,000.00. Following the transaction, the chief executive officer owned 2,021,917 shares of the company’s stock, valued at approximately $2,689,149.61. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Heritage Global Trading Down 0.8%

HGBL stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.30. 67,103 shares of the company were exchanged, compared to its average volume of 192,392. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $45.03 million, a P/E ratio of -3.17 and a beta of 0.46. The business has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.27. Heritage Global Inc. has a 12-month low of $1.01 and a 12-month high of $1.72.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). The company had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $13.29 million. Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%.

Hedge Funds Weigh In On Heritage Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. purchased a new stake in shares of Heritage Global during the second quarter worth $2,446,000. BlackRock Inc. purchased a new position in Heritage Global in the second quarter valued at $204,000. Militia Capital Management LLC purchased a new position in Heritage Global in the first quarter valued at $767,000. Finally, Evernest Financial Advisors LLC acquired a new position in Heritage Global during the 1st quarter worth $274,000. Hedge funds and other institutional investors own 33.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HGBL. Weiss Ratings raised Heritage Global from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Lake Street Capital lowered their target price on Heritage Global from $4.50 to $3.00 and set a “buy” rating for the company in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Heritage Global presently has a consensus rating of “Hold” and an average price target of $3.00.

Heritage Global Company Profile

Heritage Global, Inc (NASDAQ:HGBL) is an asset services company that helps businesses, lenders, governments and other organizations monetize surplus, specialized and distressed assets. Through its operating subsidiaries, the company provides auction, liquidation, brokerage, valuation and advisory services for industrial, commercial and financial assets.

Heritage Global’s services include live and online auctions, negotiated sales, asset appraisals, valuations, inventory management and other capital-recovery solutions.