Heritage Global (NASDAQ:HGBL) Announces Earnings Results

Heritage Global (NASDAQ:HGBLGet Rating) issued its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), MarketWatch Earnings reports. Heritage Global had a net margin of 11.84% and a return on equity of 9.68%.

Shares of HGBL traded up $0.22 during trading hours on Friday, reaching $1.25. 378,140 shares of the company traded hands, compared to its average volume of 53,572. The firm has a market cap of $45.85 million, a price-to-earnings ratio of 11.45 and a beta of 1.55. Heritage Global has a 12-month low of $1.02 and a 12-month high of $3.10. The company has a current ratio of 1.64, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $1.24 and its 200 day moving average price is $1.53.

Separately, Maxim Group lowered their target price on shares of Heritage Global from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 18th.

In other Heritage Global news, Director Michael Hexner acquired 18,657 shares of the stock in a transaction that occurred on Wednesday, March 30th. The stock was bought at an average cost of $1.35 per share, with a total value of $25,186.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of Heritage Global by 92.1% in the 3rd quarter. Renaissance Technologies LLC now owns 93,617 shares of the company’s stock valued at $183,000 after buying an additional 44,888 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Heritage Global in the 2nd quarter valued at about $100,000. Millennium Management LLC bought a new stake in shares of Heritage Global in the 3rd quarter valued at about $74,000. Finally, UBS Group AG boosted its holdings in shares of Heritage Global by 488.1% in the 3rd quarter. UBS Group AG now owns 14,715 shares of the company’s stock valued at $29,000 after buying an additional 12,213 shares in the last quarter. 17.43% of the stock is owned by institutional investors.

Heritage Global Company Profile (Get Rating)

Heritage Global, Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company provides market making, acquisitions, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets.

See Also

Earnings History for Heritage Global (NASDAQ:HGBL)

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