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
(
Get Free Report)
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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