Heritage Global (NASDAQ:HGBL - Free Report) had its target price lowered by Lake Street Capital from $5.00 to $4.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Heritage Global Stock Performance
Heritage Global stock traded up $0.01 during trading hours on Friday, reaching $2.30. 121,050 shares of the company's stock traded hands, compared to its average volume of 75,844. Heritage Global has a fifty-two week low of $1.52 and a fifty-two week high of $2.89. The firm has a market capitalization of $85.88 million, a price-to-earnings ratio of 8.21 and a beta of 1.22. The firm's 50 day moving average is $2.12 and its 200-day moving average is $1.84.
Heritage Global (NASDAQ:HGBL - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). Heritage Global had a net margin of 20.60% and a return on equity of 16.05%. The business had revenue of $10.77 million for the quarter, compared to analyst estimates of $12.30 million.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Heritage Global during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC acquired a new stake in shares of Heritage Global in the 4th quarter valued at approximately $28,000. Two Sigma Securities LLC acquired a new stake in shares of Heritage Global in the 4th quarter valued at approximately $28,000. Janus Henderson Group PLC raised its position in shares of Heritage Global by 53.2% in the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company's stock valued at $49,000 after acquiring an additional 10,068 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Heritage Global by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company's stock valued at $570,000 after acquiring an additional 7,842 shares during the period. 33.46% of the stock is currently owned by institutional investors and hedge funds.
Heritage Global Company Profile
(
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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.
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