B. Riley Financial (NASDAQ:RILY) Upgraded at BidaskClub

BidaskClub upgraded shares of B. Riley Financial (NASDAQ:RILY) from a hold rating to a buy rating in a report published on Friday morning, BidAskClub reports.

B. Riley Financial stock opened at $26.89 on Friday. The company has a 50-day simple moving average of $26.39 and a 200-day simple moving average of $21.44. The firm has a market capitalization of $684.43 million, a P/E ratio of 25.86 and a beta of 0.95. The company has a debt-to-equity ratio of 5.24, a quick ratio of 5.31 and a current ratio of 5.31. B. Riley Financial has a one year low of $12.94 and a one year high of $30.17.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $3.39 EPS for the quarter. The business had revenue of $266.47 million during the quarter. B. Riley Financial had a net margin of 12.52% and a return on equity of 19.27%.

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.46%. This is a positive change from B. Riley Financial’s previous quarterly dividend of $0.25.

In related news, CEO Bryant R. Riley acquired 1,224 shares of B. Riley Financial stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average price of $25.59 per share, with a total value of $31,322.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randall E. Paulson acquired 25,000 shares of B. Riley Financial stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $26.96 per share, with a total value of $674,000.00. Following the acquisition, the director now directly owns 38,343 shares of the company’s stock, valued at $1,033,727.28. The disclosure for this purchase can be found here. Insiders have bought 64,506 shares of company stock valued at $1,733,063 in the last 90 days. Insiders own 26.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its holdings in B. Riley Financial by 147.9% in the first quarter. Meeder Asset Management Inc. now owns 1,567 shares of the asset manager’s stock worth $29,000 after purchasing an additional 935 shares during the period. Assenagon Asset Management S.A. acquired a new stake in B. Riley Financial in the 2nd quarter valued at about $1,828,000. Russell Investments Group Ltd. lifted its holdings in B. Riley Financial by 2.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 487,455 shares of the asset manager’s stock valued at $10,600,000 after acquiring an additional 10,252 shares during the last quarter. AJO LP acquired a new stake in B. Riley Financial in the 1st quarter valued at about $244,000. Finally, Zebra Capital Management LLC lifted its holdings in B. Riley Financial by 18.8% in the 1st quarter. Zebra Capital Management LLC now owns 15,185 shares of the asset manager’s stock valued at $280,000 after acquiring an additional 2,404 shares during the last quarter. 45.79% of the stock is owned by institutional investors and hedge funds.

About B. Riley Financial

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.

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