B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $21.72

B. Riley Financial, Inc. (NASDAQ:RILY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $30.61. B. Riley Financial shares last traded at $30.79, with a volume of 7,408,675 shares trading hands.

B. Riley Financial Trading Up 16.6 %

The company has a market cap of $1.06 billion, a PE ratio of -12.43 and a beta of 1.56. The company has a current ratio of 4.95, a quick ratio of 4.62 and a debt-to-equity ratio of 13.51. The stock has a 50 day moving average price of $20.19 and a 200 day moving average price of $23.81.

B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings data on Thursday, February 29th. The asset manager reported ($1.86) earnings per share (EPS) for the quarter. The company had revenue of $346.51 million for the quarter. B. Riley Financial had a negative net margin of 4.75% and a negative return on equity of 8.29%.

B. Riley Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date was Friday, March 8th. B. Riley Financial’s payout ratio is -71.68%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in B. Riley Financial by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,192,119 shares of the asset manager’s stock valued at $48,865,000 after buying an additional 43,247 shares during the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of B. Riley Financial by 15.5% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 776,020 shares of the asset manager’s stock worth $31,809,000 after purchasing an additional 104,344 shares in the last quarter. FMR LLC increased its holdings in shares of B. Riley Financial by 51,501.0% in the 3rd quarter. FMR LLC now owns 703,837 shares of the asset manager’s stock worth $28,850,000 after purchasing an additional 702,473 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of B. Riley Financial by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 326,428 shares of the asset manager’s stock worth $6,852,000 after purchasing an additional 49,973 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of B. Riley Financial by 6.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 290,894 shares of the asset manager’s stock worth $6,106,000 after purchasing an additional 18,326 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.