Stock Traders Purchase High Volume of Call Options on B. Riley Financial (NASDAQ:RILY)

B. Riley Financial, Inc. (NASDAQ:RILY) saw some unusual options trading on Thursday. Investors acquired 24,182 call options on the stock. This represents an increase of 83% compared to the typical volume of 13,219 call options.

Hedge Funds Weigh In On B. Riley Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in shares of B. Riley Financial in the 3rd quarter valued at about $25,000. Addison Advisors LLC grew 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 valued at $34,000 after purchasing an additional 3,165 shares during the last quarter. Vident Advisory LLC acquired a new stake in shares of B. Riley Financial during the 1st quarter worth approximately $41,000. Bank of America Corp DE raised its position in shares of B. Riley Financial by 237.2% during the 3rd quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after purchasing an additional 4,898 shares during the period. Finally, Russell Investments Group Ltd. boosted its position 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 period. Institutional investors and hedge funds own 50.20% of the company’s stock.

B. Riley Financial Stock Up 12.7%

Shares of B. Riley Financial stock opened at $6.90 on Friday. The business has a 50-day moving average price of $4.72 and a 200 day moving average price of $5.14. B. Riley Financial has a fifty-two week low of $2.67 and a fifty-two week high of $7.90. The firm has a market cap of $211.12 million, a P/E ratio of -1.31 and a beta of 1.24.

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

Analysts Set New Price Targets

RILY has been the subject of a number of recent analyst reports. Wall Street Zen upgraded B. Riley Financial from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, B. Riley Financial presently has an average rating of “Sell”.

B. Riley Financial Company Profile

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.