B. Riley Financial (NASDAQ:RILY) Issues Quarterly Earnings Results

B. Riley Financial (NASDAQ:RILY) posted its quarterly earnings data on Tuesday. The asset manager reported ($0.50) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $186.06 million during the quarter.

B. Riley Financial Trading Down 13.3%

RILY traded down $0.67 during trading on Wednesday, hitting $4.37. 399,637 shares of the company’s stock traded hands, compared to its average volume of 1,266,437. The stock has a market capitalization of $133.77 million, a price-to-earnings ratio of -0.17 and a beta of 1.48. The company’s 50 day simple moving average is $5.76 and its two-hundred day simple moving average is $4.77. B. Riley Financial has a 12-month low of $2.67 and a 12-month high of $7.90.

Institutional Investors Weigh In On B. Riley Financial

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its stake in shares of B. Riley Financial by 4.2% in the 2nd quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after buying an additional 2,531 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in B. Riley Financial by 144.9% in the second quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 8,582 shares during the period. Jump Financial LLC purchased a new position in B. Riley Financial in the second quarter worth about $45,000. Federated Hermes Inc. lifted its stake in shares of B. Riley Financial by 78.0% in the 2nd quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager’s stock worth $534,000 after purchasing an additional 78,847 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in B. Riley Financial by 70.0% during the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock valued at $51,000 after buying an additional 7,044 shares during the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of B. Riley Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

About B. Riley Financial

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