B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $21.72

B. Riley Financial, Inc. (NASDAQ:RILY) gapped up prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $30.61. B. Riley Financial shares last traded at $30.79, with a volume of 7,408,675 shares traded.

B. Riley Financial Trading Up 39.1 %

The company has a market capitalization of $924.13 million, a P/E ratio of -11.11 and a beta of 1.56. The company has a debt-to-equity ratio of 13.51, a current ratio of 4.95 and a quick ratio of 4.62. The stock’s 50 day moving average is $19.91 and its 200-day moving average is $23.89.

B. Riley Financial (NASDAQ:RILY) last announced its earnings results on Thursday, February 29th. The asset manager reported ($1.86) earnings per share (EPS) for the quarter. B. Riley Financial had a negative return on equity of 8.29% and a negative net margin of 4.75%. The firm had revenue of $346.51 million during the quarter.

B. Riley Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a $0.50 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.62%. B. Riley Financial’s payout ratio is currently -71.68%.

Institutional Trading of B. Riley Financial

Several institutional investors and hedge funds have recently modified their holdings of RILY. FMR LLC lifted its stake in B. Riley Financial by 51,501.0% in the 3rd quarter. FMR LLC now owns 703,837 shares of the asset manager’s stock worth $28,850,000 after purchasing an additional 702,473 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of B. Riley Financial by 619,372.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,568 shares of the asset manager’s stock worth $11,173,000 after buying an additional 272,524 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of B. Riley Financial by 818.2% during the 4th quarter. BNP Paribas Financial Markets now owns 181,449 shares of the asset manager’s stock valued at $3,809,000 after buying an additional 161,687 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of B. Riley Financial by 15.5% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 776,020 shares of the asset manager’s stock valued at $31,809,000 after acquiring an additional 104,344 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in B. Riley Financial in the third quarter worth approximately $3,756,000. 50.20% of the stock is currently owned by institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.