Wall Street Zen Upgrades B. Riley Financial (NASDAQ:RILY) to Hold

B. Riley Financial (NASDAQ:RILY) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

B. Riley Financial Price Performance

Shares of RILY opened at $5.03 on Friday. The stock has a market capitalization of $153.92 million, a PE ratio of -0.96 and a beta of 1.29. B. Riley Financial has a 12-month low of $2.67 and a 12-month high of $7.90. The business’s fifty day moving average price is $4.80 and its 200 day moving average price is $4.93.

B. Riley Financial (NASDAQ:RILY) last issued its earnings results on Thursday, March 16th. The asset manager reported $2.70 earnings per share for the quarter. The company had revenue of $345.47 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RILY. Farther Finance Advisors LLC bought a new stake in B. Riley Financial during the third quarter worth approximately $25,000. Addison Advisors LLC lifted its holdings in shares of B. Riley Financial by 37.8% during the second quarter. Addison Advisors LLC now owns 11,545 shares of the asset manager’s stock worth $34,000 after buying an additional 3,165 shares during the last quarter. Vident Advisory LLC bought a new stake in shares of B. Riley Financial in the first quarter valued at approximately $41,000. Bank of America Corp DE grew its stake in shares of B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after acquiring an additional 4,898 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in B. Riley Financial by 144.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 8,582 shares during the last quarter. 50.20% of the stock is owned by hedge funds and other institutional investors.

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.