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

B. Riley Financial (NASDAQ:RILY) posted its earnings results on Wednesday. The asset manager reported $2.91 earnings per share for the quarter, FiscalAI reports. The business had revenue of $75.70 million for the quarter.

B. Riley Financial Stock Up 8.4%

NASDAQ:RILY traded up $0.75 on Tuesday, reaching $9.64. The stock had a trading volume of 1,694,897 shares, compared to its average volume of 3,249,873. B. Riley Financial has a 1-year low of $2.67 and a 1-year high of $10.97. The stock has a fifty day moving average price of $5.17 and a 200-day moving average price of $5.42. The company has a market capitalization of $294.83 million, a P/E ratio of 1.37 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its stake in B. Riley Financial by 4.2% during the second quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,531 shares during the last quarter. Bank of America Corp DE raised its position in B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 4,898 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of B. Riley Financial by 70.0% during the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 7,044 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of B. Riley Financial by 144.9% during the second quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock worth $43,000 after purchasing an additional 8,582 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of B. Riley Financial by 1.2% in the third quarter. Vanguard Group Inc. now owns 851,840 shares of the asset manager’s stock valued at $5,090,000 after buying an additional 10,189 shares during the period. 50.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RILY. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 29th. Wall Street Zen upgraded B. Riley Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, B. Riley Financial has a consensus rating of “Sell”.

About B. Riley Financial

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.