B. Riley Financial (RILY) Rating Increased to Buy at BidaskClub

B. Riley Financial (NASDAQ:RILY) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.

Shares of NASDAQ RILY traded down $0.25 during midday trading on Tuesday, reaching $20.95. 45,198 shares of the company traded hands, compared to its average volume of 61,200. The stock has a market cap of $566.90, a PE ratio of 15.07 and a beta of 0.82. B. Riley Financial has a 12 month low of $13.55 and a 12 month high of $21.60. The company has a debt-to-equity ratio of 3.79, a quick ratio of 3.61 and a current ratio of 3.61.

B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings data on Wednesday, March 7th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. B. Riley Financial had a return on equity of 14.37% and a net margin of 3.59%. The company had revenue of $110.18 million during the quarter.

B. Riley Financial declared that its board has initiated a share buyback plan on Monday, March 19th that allows the company to repurchase $17.30 million in shares. This repurchase authorization allows the asset manager to purchase shares of its stock through a private placement purchase. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other B. Riley Financial news, Chairman Bryant R. Riley purchased 221,181 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was acquired at an average cost of $18.25 per share, with a total value of $4,036,553.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bryant R. Riley purchased 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average cost of $18.65 per share, with a total value of $134,280.00. The disclosure for this purchase can be found here. Insiders own 30.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of B. Riley Financial in the third quarter valued at about $116,000. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of B. Riley Financial by 110.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock valued at $130,000 after buying an additional 4,000 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of B. Riley Financial in the fourth quarter valued at about $192,000. Brandywine Global Investment Management LLC bought a new position in shares of B. Riley Financial in the fourth quarter valued at about $221,000. Finally, LSV Asset Management raised its holdings in shares of B. Riley Financial by 27.8% in the fourth quarter. LSV Asset Management now owns 14,700 shares of the asset manager’s stock valued at $266,000 after buying an additional 3,200 shares during the last quarter. 46.76% of the stock is owned by institutional investors and hedge funds.

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About B. Riley Financial

B. Riley Financial, Inc provides 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. It offers investment banking services, including merger and acquisitions, restructuring advisory, initial and secondary public offerings, and institutional private placements; and corporate finance, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.

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