B. Riley Financial Inc. (RILY) Sees Significant Increase in Short Interest

B. Riley Financial Inc. (NASDAQ:RILY) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,194,216 shares, a growth of 30.7% from the April 13th total of 913,442 shares. Approximately 7.7% of the company’s shares are sold short. Based on an average trading volume of 52,375 shares, the days-to-cover ratio is currently 22.8 days.

B. Riley Financial opened at $20.90 on Tuesday, according to Marketbeat.com. The company has a market cap of $576.23 million, a PE ratio of 16.74 and a beta of 0.80. B. Riley Financial has a one year low of $21.00 and a one year high of $21.60. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 3.92.

B. Riley Financial (NASDAQ:RILY) last released its earnings results on Monday, May 7th. The asset manager reported $0.24 EPS for the quarter. The firm had revenue of $95.78 million for the quarter. B. Riley Financial had a return on equity of 12.71% and a net margin of 0.56%.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Monday, May 21st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.53%.

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of B. Riley Financial by 1.4% during the first quarter. Northern Trust Corp now owns 211,266 shares of the asset manager’s stock valued at $4,120,000 after buying an additional 2,920 shares during the last quarter. LSV Asset Management boosted 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 purchasing an additional 3,200 shares during the period. Wells Fargo & Company MN boosted its holdings 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 valued at $1,706,000 after purchasing an additional 3,437 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of B. Riley Financial by 15.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,710 shares of the asset manager’s stock valued at $683,000 after purchasing an additional 5,004 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of B. Riley Financial by 0.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,284,783 shares of the asset manager’s stock valued at $25,053,000 after purchasing an additional 6,895 shares during the period. 46.91% of the stock is currently owned by hedge funds and other institutional investors.

Separately, BidaskClub raised B. Riley Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 24th.

B. Riley Financial Company Profile

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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