B. Riley Financial Inc (RILY) Stake Lowered by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. cut its holdings in B. Riley Financial Inc (NASDAQ:RILY) by 8.2% during the second quarter, HoldingsChannel.com reports. The firm owned 44,341 shares of the asset manager’s stock after selling 3,961 shares during the period. Schwab Charles Investment Management Inc.’s holdings in B. Riley Financial were worth $1,000,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of B. Riley Financial by 718.7% in the first quarter. Royal Bank of Canada now owns 12,943 shares of the asset manager’s stock worth $252,000 after purchasing an additional 11,362 shares during the period. Alps Advisors Inc. bought a new position in shares of B. Riley Financial in the second quarter worth about $504,000. Legato Capital Management LLC bought a new position in shares of B. Riley Financial in the second quarter worth about $1,034,000. Wells Fargo & Company MN increased its stake in shares of B. Riley Financial by 4.1% in the first quarter. Wells Fargo & Company MN now owns 87,501 shares of the asset manager’s stock worth $1,706,000 after purchasing an additional 3,437 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of B. Riley Financial by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 140,927 shares of the asset manager’s stock worth $3,179,000 after purchasing an additional 5,193 shares during the period. Institutional investors and hedge funds own 47.07% of the company’s stock.

In other news, major shareholder B. Riley Financial, Inc. purchased 5,783 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were purchased at an average cost of $10.79 per share, for a total transaction of $62,398.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 38,436 shares of company stock worth $404,371 over the last 90 days. Corporate insiders own 24.20% of the company’s stock.

B. Riley Financial stock opened at $20.26 on Wednesday. B. Riley Financial Inc has a 52 week low of $15.75 and a 52 week high of $23.70. The company has a debt-to-equity ratio of 5.09, a quick ratio of 2.62 and a current ratio of 2.62. The stock has a market capitalization of $591.78 million, a PE ratio of 13.32 and a beta of 0.84.

B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings results on Thursday, August 2nd. The asset manager reported $0.78 earnings per share (EPS) for the quarter. B. Riley Financial had a return on equity of 17.08% and a net margin of 3.72%. The firm had revenue of $125.50 million for the quarter.

Separately, BidaskClub lowered B. Riley Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st.

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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Institutional Ownership by Quarter for B. Riley Financial (NASDAQ:RILY)

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