Renaissance Technologies LLC Invests $1.83 Million in B. Riley Financial, Inc. $RILY

Renaissance Technologies LLC purchased a new stake in shares of B. Riley Financial, Inc. (NASDAQ:RILY) during the first quarter, Holdings Channel reports. The fund purchased 250,218 shares of the asset manager’s stock, valued at approximately $1,832,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Soviero Asset Management LP acquired a new position in B. Riley Financial during the third quarter worth $2,211,000. Charles Schwab Investment Management Inc. raised its holdings in B. Riley Financial by 25.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,179 shares of the asset manager’s stock valued at $5,245,000 after buying an additional 224,858 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of B. Riley Financial by 82.2% in the fourth quarter. Federated Hermes Inc. now owns 329,222 shares of the asset manager’s stock worth $1,537,000 after buying an additional 148,554 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of B. Riley Financial in the fourth quarter worth about $694,000. Finally, Two Sigma Investments LP boosted its stake in shares of B. Riley Financial by 551.3% during the 3rd quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock worth $1,016,000 after acquiring an additional 143,877 shares in the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on RILY shares. Weiss Ratings reissued a “sell (d+)” rating on shares of B. Riley Financial in a research note on Monday, June 15th. Wall Street Zen downgraded B. Riley Financial from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

B. Riley Financial Stock Performance

Shares of RILY opened at $7.27 on Wednesday. The company has a market capitalization of $292.25 million, a PE ratio of 0.57 and a beta of 1.23. The company has a debt-to-equity ratio of 7.13, a current ratio of 1.40 and a quick ratio of 3.95. B. Riley Financial, Inc. has a one year low of $3.64 and a one year high of $11.24. The company’s fifty day moving average price is $7.76 and its 200 day moving average price is $7.88.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Thursday, August 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $239.36 million during the quarter. B. Riley Financial had a net margin of 35.88% and a return on equity of 39,260.09%.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.