Bruce Kenneth Hounsell Buys 10,000 Shares of Heritage Global (NASDAQ:HGBL) Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Bruce Kenneth Hounsell purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $1.14 per share, with a total value of $11,400.00. Following the completion of the acquisition, the insider owned 10,000 shares of the company’s stock, valued at approximately $11,400. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Global Stock Performance

Shares of Heritage Global stock traded up $0.08 during midday trading on Monday, hitting $1.17. The company had a trading volume of 656,192 shares, compared to its average volume of 188,356. The business’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $1.27. The stock has a market cap of $40.65 million, a PE ratio of -2.85 and a beta of 0.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.29. Heritage Global Inc. has a 1-year low of $1.01 and a 1-year high of $1.98.

Heritage Global (NASDAQ:HGBL) last announced its earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). The company had revenue of $12.27 million for the quarter, compared to the consensus estimate of $13.29 million. Heritage Global had a positive return on equity of 6.12% and a negative net margin of 29.63%.

Hedge Funds Weigh In On Heritage Global

Several hedge funds and other institutional investors have recently modified their holdings of HGBL. Evergreen Capital Management LLC acquired a new stake in Heritage Global in the 2nd quarter valued at $26,000. Virtu Financial LLC acquired a new position in Heritage Global during the third quarter worth $28,000. Citadel Advisors LLC lifted its holdings in shares of Heritage Global by 17.0% during the third quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after acquiring an additional 10,672 shares during the period. Punch & Associates Investment Management Inc. boosted its stake in shares of Heritage Global by 0.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock valued at $4,109,000 after purchasing an additional 21,175 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Heritage Global in the 3rd quarter valued at $71,000. Institutional investors own 33.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Heritage Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Lake Street Capital lowered their price target on Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Heritage Global has an average rating of “Moderate Buy” and a consensus target price of $3.00.

Heritage Global Company Profile

Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.

The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.