Heritage Global (NASDAQ:HGBL) Coverage Initiated at Lake Street Capital

Stock analysts at Lake Street Capital started coverage on shares of Heritage Global (NASDAQ:HGBL) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $4.50 price target on the stock. Lake Street Capital’s target price would indicate a potential upside of 284.62% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Heritage Global Stock Performance

HGBL opened at $1.17 on Friday. Heritage Global has a twelve month low of $1.15 and a twelve month high of $2.39. The firm has a market capitalization of $40.65 million, a PE ratio of 10.64 and a beta of 0.51. The company has a current ratio of 2.29, a quick ratio of 1.89 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $1.33 and its 200 day moving average price is $1.44.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Heritage Global had a net margin of 7.04% and a return on equity of 5.45%. The business had revenue of $11.86 million during the quarter, compared to analyst estimates of $12.89 million.

Institutional Investors Weigh In On Heritage Global

A number of hedge funds have recently modified their holdings of HGBL. XTX Topco Ltd acquired a new stake in Heritage Global during the fourth quarter worth about $31,000. Rothschild Wealth LLC acquired a new position in Heritage Global in the 4th quarter valued at about $447,000. Mink Brook Asset Management LLC grew its stake in shares of Heritage Global by 7.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after buying an additional 146,622 shares during the period. Jane Street Group LLC grew its stake in shares of Heritage Global by 196.2% in the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after buying an additional 19,642 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Heritage Global by 29.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock worth $62,000 after buying an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 33.46% of the company’s stock.

About Heritage Global

Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.

The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.