B. Riley Financial (NASDAQ:RILY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of B. Riley Financial (NASDAQ:RILY) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of B. Riley Financial in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

B. Riley Financial Stock Down 4.7%

Shares of RILY stock opened at $7.09 on Friday. The company has a market cap of $221.35 million, a price-to-earnings ratio of 1.01 and a beta of 1.27. B. Riley Financial has a 52 week low of $2.67 and a 52 week high of $10.97. The firm has a 50 day moving average of $7.70 and a 200-day moving average of $6.12.

B. Riley Financial (NASDAQ:RILY) last released its earnings results on Wednesday, January 14th. The asset manager reported $2.91 earnings per share (EPS) for the quarter. The company had revenue of $75.70 million for the quarter.

Hedge Funds Weigh In On B. Riley Financial

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in B. Riley Financial in the 3rd quarter valued at $25,000. Bank of America Corp DE raised its holdings in 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 buying an additional 4,898 shares during the last quarter. Magnus Financial Group LLC acquired a new position in B. Riley Financial during the fourth quarter worth $47,000. Boothbay Fund Management LLC bought a new position in shares of B. Riley Financial in the fourth quarter valued at $60,000. Finally, Cresset Asset Management LLC bought a new position in shares of B. Riley Financial in the third quarter valued at $79,000. 50.20% of the stock is owned by institutional investors and hedge funds.

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.