Wellington Management Group LLP lessened its holdings in shares of B. Riley Financial Inc (NASDAQ:RILY) by 36.6% during the 1st quarter, Holdings Channel reports. The firm owned 16,245 shares of the asset manager’s stock after selling 9,378 shares during the period. Wellington Management Group LLP’s holdings in B. Riley Financial were worth $300,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of RILY. Renaissance Technologies LLC lifted its position in shares of B. Riley Financial by 306.3% during the fourth quarter. Renaissance Technologies LLC now owns 73,939 shares of the asset manager’s stock worth $1,862,000 after purchasing an additional 55,739 shares in the last quarter. Marshall Wace LLP acquired a new stake in B. Riley Financial in the fourth quarter valued at approximately $1,327,000. State Street Corp raised its holdings in B. Riley Financial by 9.9% in the fourth quarter. State Street Corp now owns 405,924 shares of the asset manager’s stock valued at $10,221,000 after acquiring an additional 36,592 shares in the last quarter. Trexquant Investment LP acquired a new stake in B. Riley Financial in the first quarter valued at approximately $339,000. Finally, Punch & Associates Investment Management Inc. raised its holdings in B. Riley Financial by 1.2% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,559,456 shares of the asset manager’s stock valued at $39,267,000 after acquiring an additional 18,368 shares in the last quarter. 44.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:RILY opened at $21.76 on Wednesday. The firm’s 50 day moving average price is $20.15 and its 200 day moving average price is $21.96. The stock has a market cap of $523.78 million, a price-to-earnings ratio of -17.98 and a beta of 0.84. B. Riley Financial Inc has a fifty-two week low of $12.94 and a fifty-two week high of $30.17. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 6.30.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were paid a $0.25 dividend. This is a positive change from B. Riley Financial’s previous quarterly dividend of $0.08. This represents a $1.00 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, May 29th.
Separately, BidaskClub raised shares of B. Riley Financial from a “sell” rating to a “hold” rating in a report on Saturday, June 6th.
In other B. Riley Financial news, CEO Bryant R. Riley bought 1,835 shares of the stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $18.25 per share, for a total transaction of $33,488.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder B. Riley Financial, Inc. bought 100,000 shares of the stock in a transaction dated Monday, April 6th. The shares were acquired at an average price of $2.70 per share, for a total transaction of $270,000.00. The disclosure for this purchase can be found here. Insiders acquired 329,949 shares of company stock worth $2,009,299 over the last quarter. 26.20% of the stock is currently owned by insiders.
B. Riley Financial Company Profile
B. Riley Financial, Inc, through its subsidiaries, provides collaborative 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 and magicJack.
Further Reading: QQQ ETF
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