Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 15.4% in October

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 16,500 shares, a decline of 15.4% from the September 30th total of 19,500 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 88,800 shares, the days-to-cover ratio is currently 0.2 days.

Heritage Global Price Performance

Shares of HGBL stock traded up $0.03 during mid-day trading on Tuesday, reaching $1.72. The company's stock had a trading volume of 30,470 shares, compared to its average volume of 76,021. The firm's 50-day moving average is $1.68 and its two-hundred day moving average is $2.12. The company has a market cap of $64.23 million, a P/E ratio of 5.73 and a beta of 1.19. Heritage Global has a 1-year low of $1.52 and a 1-year high of $3.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.76 and a current ratio of 1.99.

Heritage Global (NASDAQ:HGBL - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $12.02 million during the quarter. Heritage Global had a net margin of 20.29% and a return on equity of 19.14%.

Hedge Funds Weigh In On Heritage Global

Several hedge funds have recently added to or reduced their stakes in HGBL. Janus Henderson Group PLC bought a new position in shares of Heritage Global during the first quarter worth $54,000. Connective Capital Management LLC bought a new position in Heritage Global during the first quarter worth about $538,000. Herr Investment Group LLC grew its stake in Heritage Global by 10.7% in the first quarter. Herr Investment Group LLC now owns 432,900 shares of the company's stock valued at $1,143,000 after acquiring an additional 42,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Heritage Global by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company's stock worth $1,107,000 after acquiring an additional 47,375 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Heritage Global by 34.6% in the first quarter. Ancora Advisors LLC now owns 472,388 shares of the company's stock worth $1,247,000 after acquiring an additional 121,483 shares in the last quarter. Institutional investors and hedge funds own 33.46% of the company's stock.

Heritage Global Company Profile

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.