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

B. Riley Financial Inc (NASDAQ:RILY) saw a large growth in short interest during the month of September. As of September 14th, there was short interest totalling 986,779 shares, a growth of 54.1% from the August 31st total of 640,367 shares. Based on an average daily trading volume, of 31,854 shares, the short-interest ratio is presently 31.0 days. Currently, 6.6% of the company’s stock are sold short.

Shares of RILY stock traded down $0.30 on Friday, reaching $19.70. The stock had a trading volume of 65,054 shares, compared to its average volume of 53,731. The company has a market cap of $591.78 million, a P/E ratio of 13.32 and a beta of 0.84. B. Riley Financial has a 1 year low of $15.75 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 5.09, a current ratio of 2.62 and a quick ratio of 2.62.

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

In related news, major shareholder B. Riley Financial, Inc. purchased 14,503 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were bought at an average price of $10.55 per share, for a total transaction of $153,006.65. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 38,436 shares of company stock worth $404,371 in the last 90 days. 24.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in RILY. Royce & Associates LP raised its holdings in B. Riley Financial by 34.3% in the 2nd quarter. Royce & Associates LP now owns 742,452 shares of the asset manager’s stock worth $16,742,000 after purchasing an additional 189,457 shares during the period. Acuitas Investments LLC raised its holdings in B. Riley Financial by 292.9% in the 2nd quarter. Acuitas Investments LLC now owns 111,469 shares of the asset manager’s stock worth $2,514,000 after purchasing an additional 83,097 shares during the period. Russell Investments Group Ltd. raised its holdings in B. Riley Financial by 21.8% in the 1st quarter. Russell Investments Group Ltd. now owns 327,129 shares of the asset manager’s stock worth $6,378,000 after purchasing an additional 58,446 shares during the period. BlackRock Inc. raised its holdings in B. Riley Financial by 4.3% in the 2nd quarter. BlackRock Inc. now owns 1,206,567 shares of the asset manager’s stock worth $27,207,000 after purchasing an additional 49,250 shares during the period. Finally, Legato Capital Management LLC bought a new position in B. Riley Financial in the 2nd quarter worth $1,034,000. 47.07% of the stock is currently owned by institutional investors.

Separately, BidaskClub downgraded B. Riley Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 14th.

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.

See Also: Intrinsic Value

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