B. Riley Financial Inc (RILY) Sees Significant Growth in Short Interest
B. Riley Financial Inc (NASDAQ:RILY) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,224,357 shares, a growth of 61.9% from the November 30th total of 756,402 shares. Based on an average daily volume of 120,333 shares, the days-to-cover ratio is presently 10.2 days. Currently, 7.9% of the company’s shares are sold short.
Shares of B. Riley Financial (RILY) opened at $18.30 on Wednesday. B. Riley Financial has a 1 year low of $13.55 and a 1 year high of $21.30. The company has a debt-to-equity ratio of 3.07, a quick ratio of 2.99 and a current ratio of 2.99. The stock has a market capitalization of $483.03, a PE ratio of 12.12 and a beta of 0.50.
In other news, CEO Bryant R. Riley purchased 7,325 shares of the stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $17.15 per share, with a total value of $125,623.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bryant R. Riley purchased 38,572 shares of the stock in a transaction on Friday, December 1st. The shares were purchased at an average cost of $17.89 per share, with a total value of $690,053.08. The disclosure for this purchase can be found here. Insiders purchased 54,576 shares of company stock valued at $969,729 over the last quarter. Insiders own 30.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in B. Riley Financial during the third quarter valued at about $116,000. Cornerstone Capital Management Holdings LLC. grew its position in B. Riley Financial by 110.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 4,000 shares during the period. Nationwide Fund Advisors grew its position in B. Riley Financial by 43.9% during the second quarter. Nationwide Fund Advisors now owns 7,956 shares of the asset manager’s stock valued at $148,000 after acquiring an additional 2,428 shares during the period. The Manufacturers Life Insurance Company grew its position in B. Riley Financial by 592.0% during the second quarter. The Manufacturers Life Insurance Company now owns 11,397 shares of the asset manager’s stock valued at $211,000 after acquiring an additional 9,750 shares during the period. Finally, First Trust Advisors LP purchased a new stake in B. Riley Financial during the third quarter valued at about $210,000. 45.81% of the stock is owned by hedge funds and other institutional investors.
B. Riley Financial Company Profile
B. Riley Financial, Inc is an independent investment bank. The Company’s segments include capital markets, auction and liquidation, valuation and appraisal, and Principal Investments-United Online. The capital markets segment provides an array of investment banking, corporate finance, research, wealth management, sales and trading services to corporate, institutional and high net worth clients.
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