Beneficient (NASDAQ:BENF) Shares Gap Down to $5.78

Beneficient (NASDAQ:BENF) gapped down before the market opened on Thursday . The stock had previously closed at $5.78, but opened at $4.62. Beneficient shares last traded at $4.48, with a volume of 48,412 shares trading hands.

Beneficient Stock Performance

The firm has a fifty day moving average price of $9.33 and a two-hundred day moving average price of $34.43.

Beneficient (NASDAQ:BENF) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($156.00) earnings per share for the quarter. The firm had revenue of ($10.24) million during the quarter.

Insider Activity

In other news, Director Peter T. Cangany, Jr. purchased 2,500 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $20.80 per share, with a total value of $52,000.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at $52,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.36% of the company’s stock.

Hedge Funds Weigh In On Beneficient

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in Beneficient in the 3rd quarter worth $98,000. Newbridge Financial Services Group Inc. bought a new position in Beneficient in the 3rd quarter worth $249,000. Vanguard Group Inc. raised its holdings in Beneficient by 81.1% in the 4th quarter. Vanguard Group Inc. now owns 990,122 shares of the company’s stock worth $481,000 after purchasing an additional 443,546 shares during the period. Northern Trust Corp raised its holdings in Beneficient by 42.4% in the 4th quarter. Northern Trust Corp now owns 162,113 shares of the company’s stock worth $79,000 after purchasing an additional 48,294 shares during the period. Finally, Stifel Financial Corp bought a new position in Beneficient in the 4th quarter worth $43,000. 90.57% of the stock is owned by institutional investors.

Beneficient Company Profile

Beneficient, a technology-enabled financial service company, provides liquidity solutions and related trust, custody and administrative services to participants in the alternative asset industry. The company operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments. It offers AltAccess platform for secure, online, and end-to-end delivery of each of the Ben business unit products and services, including upload documents, and work through tasks and complete their transactions with standardized transaction agreements.