Heritage Global (NASDAQ:HGBL) Posts Earnings Results, Misses Estimates By $0.01 EPS

Heritage Global (NASDAQ:HGBLGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), MarketWatch Earnings reports. Heritage Global had a return on equity of 9.68% and a net margin of 11.84%.

HGBL stock traded up $0.22 during trading on Friday, hitting $1.25. 378,190 shares of the company traded hands, compared to its average volume of 25,759. The company has a market cap of $45.74 million, a PE ratio of 15.59 and a beta of 1.55. Heritage Global has a 1 year low of $1.02 and a 1 year high of $3.10. The stock’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.64 and a quick ratio of 1.41.

Separately, Maxim Group dropped their price objective on Heritage Global from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 18th.

In other Heritage Global news, Director Michael Hexner acquired 18,657 shares of the business’s stock in a transaction dated Wednesday, March 30th. The stock was acquired at an average cost of $1.35 per share, for a total transaction of $25,186.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Heritage Global by 92.1% during the third quarter. Renaissance Technologies LLC now owns 93,617 shares of the company’s stock worth $183,000 after buying an additional 44,888 shares during the last quarter. Citadel Advisors LLC acquired a new position in Heritage Global during the second quarter worth $100,000. Millennium Management LLC acquired a new position in Heritage Global during the third quarter worth $74,000. Finally, UBS Group AG boosted its stake in Heritage Global by 488.1% during the third quarter. UBS Group AG now owns 14,715 shares of the company’s stock worth $29,000 after buying an additional 12,213 shares during the last quarter. 17.43% of the stock is currently owned by institutional investors.

Heritage Global Company Profile (Get Rating)

Heritage Global, Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company provides market making, acquisitions, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets.

Further Reading

Earnings History for Heritage Global (NASDAQ:HGBL)

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