B. Riley Financial (NASDAQ:RILY) Stock Crosses Below 50 Day Moving Average - Here's What Happened

B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.59 and traded as low as $2.95. B. Riley Financial shares last traded at $3.08, with a volume of 1,846,828 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of B. Riley Financial to a "sell" rating in a report on Monday.

B. Riley Financial Stock Performance

The stock has a 50-day simple moving average of $4.55 and a 200 day simple moving average of $5.25. The stock has a market capitalization of $123.98 million, a P/E ratio of -0.19 and a beta of 1.30.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The asset manager reported ($4.97) EPS for the quarter. B. Riley Financial had a negative return on equity of 236.88% and a negative net margin of 48.04%. The firm had revenue of $199.31 million during the quarter.

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Hedge Funds Weigh In On B. Riley Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of B. Riley Financial during the third quarter worth $29,000. Albion Financial Group UT acquired a new position in B. Riley Financial during the fourth quarter worth $30,000. Wells Fargo & Company MN grew its position in shares of B. Riley Financial by 44.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,543 shares of the asset manager's stock valued at $44,000 after acquiring an additional 2,952 shares during the period. Jones Financial Companies Lllp increased its stake in shares of B. Riley Financial by 1,049.1% during the 4th quarter. Jones Financial Companies Lllp now owns 9,710 shares of the asset manager's stock worth $45,000 after purchasing an additional 8,865 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of B. Riley Financial during the 4th quarter worth about $46,000. 50.20% of the stock is owned by institutional investors.

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, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.