B. Riley Financial (NASDAQ:RILY) Issues Earnings Results

B. Riley Financial (NASDAQ:RILY) posted its quarterly earnings results on Wednesday. The asset manager reported $2.97 earnings per share (EPS) for the quarter, Zacks reports.

B. Riley Financial Price Performance

Shares of RILY opened at $7.54 on Thursday. The company’s 50-day moving average is $4.94 and its 200-day moving average is $5.28. The firm has a market capitalization of $230.70 million, a PE ratio of -1.44 and a beta of 1.24. B. Riley Financial has a fifty-two week low of $2.67 and a fifty-two week high of $8.28.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in B. Riley Financial by 51.3% during the third quarter. Millennium Management LLC now owns 367,984 shares of the asset manager’s stock worth $2,199,000 after acquiring an additional 124,762 shares during the last quarter. Bank of America Corp DE increased its stake in shares of B. Riley Financial by 237.2% during the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after purchasing an additional 4,898 shares during the period. Brooklyn Investment Group lifted its holdings in B. Riley Financial by 237.4% during the 3rd quarter. Brooklyn Investment Group now owns 30,792 shares of the asset manager’s stock worth $184,000 after purchasing an additional 21,665 shares during the last quarter. Two Sigma Investments LP lifted its holdings in B. Riley Financial by 551.3% during the 3rd quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock worth $1,016,000 after purchasing an additional 143,877 shares during the last quarter. Finally, Soviero Asset Management LP bought a new stake in B. Riley Financial in the 3rd quarter valued at $2,211,000. 50.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RILY. Wall Street Zen upgraded shares of B. Riley Financial from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, B. Riley Financial currently has an average rating of “Sell”.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.