B. Riley Financial (NASDAQ:RILY) Cut to Buy at BidaskClub

BidaskClub cut shares of B. Riley Financial (NASDAQ:RILY) from a strong-buy rating to a buy rating in a report released on Tuesday morning, BidAskClub reports.

B. Riley Financial stock opened at $21.13 on Tuesday. The company has a debt-to-equity ratio of 5.47, a quick ratio of 3.40 and a current ratio of 3.40. B. Riley Financial has a 12 month low of $13.60 and a 12 month high of $23.70. The company has a market capitalization of $541.83 million, a price-to-earnings ratio of 14.26 and a beta of 0.85.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings data on Wednesday, May 1st. The asset manager reported $0.54 EPS for the quarter. B. Riley Financial had a return on equity of 14.44% and a net margin of 4.05%. The business had revenue of $142.13 million for the quarter.

The business also recently disclosed a None dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a yield of 1.64%.

In other news, major shareholder B. Riley Financial, Inc. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $7.32, for a total transaction of $73,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bryant R. Riley bought 40,229 shares of B. Riley Financial stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $19.24 per share, with a total value of $774,005.96. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 55,204 shares of company stock worth $1,038,231 and sold 34,508 shares worth $380,563. Corporate insiders own 24.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in RILY. Nokomis Capital L.L.C. raised its stake in shares of B. Riley Financial by 19.4% during the 1st quarter. Nokomis Capital L.L.C. now owns 1,638,841 shares of the asset manager’s stock worth $27,352,000 after buying an additional 266,527 shares during the period. AltraVue Capital LLC acquired a new position in shares of B. Riley Financial during the 4th quarter worth approximately $3,517,000. Punch & Associates Investment Management Inc. raised its stake in shares of B. Riley Financial by 8.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,520,576 shares of the asset manager’s stock worth $25,378,000 after buying an additional 123,180 shares during the period. Equitec Specialists LLC raised its stake in shares of B. Riley Financial by 140.2% during the 1st quarter. Equitec Specialists LLC now owns 131,891 shares of the asset manager’s stock worth $2,201,000 after buying an additional 76,971 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in shares of B. Riley Financial during the 1st quarter worth approximately $789,000. 47.28% of the stock is owned by institutional investors and hedge funds.

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.

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