B. Riley Financial (NASDAQ:RILY) Shares Down 3.6%

B. Riley Financial, Inc. (NASDAQ:RILY)’s stock price fell 3.6% on Monday . The stock traded as low as $29.88 and last traded at $29.97. 385,430 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,440,614 shares. The stock had previously closed at $31.10.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of B. Riley Financial to a “sell” rating in a research report on Tuesday, April 30th.

B. Riley Financial Stock Performance

The business’s 50-day simple moving average is $22.71 and its 200 day simple moving average is $23.34. The company has a debt-to-equity ratio of 14.33, a quick ratio of 4.88 and a current ratio of 4.88.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Thursday, February 29th. The asset manager reported ($1.86) EPS for the quarter. B. Riley Financial had a negative return on equity of 8.40% and a negative net margin of 4.75%. The company had revenue of $346.51 million for the quarter.

B. Riley Financial Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.66%. B. Riley Financial’s dividend payout ratio (DPR) is -71.68%.

Hedge Funds Weigh In On B. Riley Financial

Several hedge funds have recently made changes to their positions in RILY. FMR LLC grew its stake in shares of B. Riley Financial by 51,501.0% in the 3rd quarter. FMR LLC now owns 703,837 shares of the asset manager’s stock worth $28,850,000 after purchasing an additional 702,473 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of B. Riley Financial by 619,372.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,568 shares of the asset manager’s stock worth $11,173,000 after purchasing an additional 272,524 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of B. Riley Financial by 818.2% in the 4th quarter. BNP Paribas Financial Markets now owns 181,449 shares of the asset manager’s stock worth $3,809,000 after purchasing an additional 161,687 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of B. Riley Financial by 15.5% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 776,020 shares of the asset manager’s stock worth $31,809,000 after purchasing an additional 104,344 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of B. Riley Financial in the 3rd quarter worth approximately $3,756,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.