Heritage Global (NASDAQ:HGBL) Director Purchases $399,000.00 in Stock

Heritage Global Inc. (NASDAQ:HGBL) Director William Burnham acquired 300,000 shares of the business’s stock in a transaction on Friday, September 25th. The shares were purchased at an average cost of $1.33 per share, for a total transaction of $399,000.00. Following the completion of the transaction, the director owned 300,000 shares in the company, valued at approximately $399,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Heritage Global Stock Down 3.1%

Shares of NASDAQ:HGBL opened at $1.26 on Friday. The firm has a market capitalization of $43.65 million, a P/E ratio of -3.07 and a beta of 0.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.69. The stock has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.27. Heritage Global Inc. has a 52-week low of $1.01 and a 52-week high of $1.66.

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

Institutional Trading of Heritage Global

Hedge funds have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. purchased a new position in Heritage Global during the second quarter valued at $2,446,000. BlackRock Inc. bought a new stake in Heritage Global in the second quarter worth $204,000. Militia Capital Management LLC purchased a new stake in shares of Heritage Global in the first quarter worth $767,000. Finally, Evernest Financial Advisors LLC purchased a new stake in shares of Heritage Global in the first quarter worth $274,000. 33.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

HGBL has been the topic of a number of research reports. Lake Street Capital dropped their target price on shares of Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings upgraded shares of Heritage Global from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Heritage Global has a consensus rating of “Hold” and an average target price of $3.00.

About Heritage Global

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.