Insider Selling: Heritage Global Inc. (NASDAQ:HGBL) Insider Sells 7,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) insider David Van Ludwig sold 7,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $1.97, for a total transaction of $13,790.00. Following the transaction, the insider now directly owns 900,479 shares in the company, valued at approximately $1,773,943.63. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

David Van Ludwig also recently made the following trade(s):

• On Thursday, March 6th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.07, for a total transaction of $20,700.00.
• On Wednesday, February 26th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.02, for a total transaction of $20,200.00.
• On Wednesday, February 12th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.24, for a total transaction of $22,400.00.
• On Wednesday, January 29th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.13, for a total transaction of $21,300.00.
• On Wednesday, January 15th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.07, for a total transaction of $20,700.00.
• On Wednesday, January 8th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $1.99, for a total transaction of $19,900.00.
• On Wednesday, December 18th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $1.75, for a total transaction of $17,500.00.

Heritage Global Price Performance

NASDAQ:HGBL traded up $0.17 on Friday, reaching $2.26. The stock had a trading volume of 246,092 shares, compared to its average volume of 75,331. The company has a market cap of $84.20 million, a price-to-earnings ratio of 8.05 and a beta of 1.22. The firm's fifty day moving average is $2.10 and its two-hundred day moving average is $1.83. Heritage Global Inc. has a 12-month low of $1.52 and a 12-month high of $3.09.

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Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in shares of Heritage Global during the 4th quarter worth about $28,000. Jane Street Group LLC purchased a new position in shares of Heritage Global during the 3rd quarter worth about $25,000. Two Sigma Securities LLC purchased a new position in shares of Heritage Global during the 4th quarter worth about $28,000. Janus Henderson Group PLC raised its holdings in Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company's stock valued at $49,000 after buying an additional 10,068 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company's stock valued at $570,000 after buying an additional 7,842 shares during the period. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Global

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.