Heritage Global Inc. (NASDAQ:HGBL) Director Samuel L. Shimer Buys 20,000 Shares

Heritage Global Inc. (NASDAQ:HGBLGet Rating) Director Samuel L. Shimer bought 20,000 shares of Heritage Global stock in a transaction dated Friday, May 27th. The shares were acquired at an average cost of $1.19 per share, for a total transaction of $23,800.00. Following the completion of the purchase, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $208,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of HGBL stock opened at $1.20 on Friday. The stock has a market cap of $43.83 million, a price-to-earnings ratio of 14.94 and a beta of 1.55. The business’s fifty day moving average is $1.19 and its 200 day moving average is $1.48. Heritage Global Inc. has a twelve month low of $1.02 and a twelve month high of $2.93. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.04.

Heritage Global (NASDAQ:HGBLGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Heritage Global had a return on equity of 8.30% and a net margin of 9.51%.

A number of hedge funds have recently modified their holdings of HGBL. UBS Group AG grew its stake in Heritage Global by 488.1% in the third quarter. UBS Group AG now owns 14,715 shares of the company’s stock worth $29,000 after purchasing an additional 12,213 shares during the period. Millennium Management LLC purchased a new stake in Heritage Global in the third quarter worth $74,000. Wedbush Securities Inc. grew its stake in shares of Heritage Global by 242.0% in the fourth quarter. Wedbush Securities Inc. now owns 47,662 shares of the company’s stock worth $89,000 after acquiring an additional 33,724 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Heritage Global in the second quarter worth $100,000. Finally, Renaissance Technologies LLC grew its stake in shares of Heritage Global by 92.1% in the third quarter. Renaissance Technologies LLC now owns 93,617 shares of the company’s stock worth $183,000 after acquiring an additional 44,888 shares during the last quarter. 17.43% of the stock is currently owned by institutional investors.

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

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.

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