Heritage Global (NASDAQ:HGBL) Stock Price Down 1.8%

Heritage Global Inc. (NASDAQ:HGBL) shares dropped 1.8% during mid-day trading on Tuesday . The stock traded as low as $1.66 and last traded at $1.66. Approximately 200,759 shares were traded during mid-day trading, an increase of 160% from the average daily volume of 77,284 shares. The stock had previously closed at $1.69.

Heritage Global Price Performance

The stock has a market capitalization of $60.87 million, a P/E ratio of 5.43 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.76 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $2.38.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $12.02 million for the quarter. Heritage Global had a net margin of 20.29% and a return on equity of 19.14%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC raised its position in shares of Heritage Global by 3.9% during the 1st quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock valued at $522,000 after acquiring an additional 7,500 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Heritage Global during the first quarter worth $54,000. Herr Investment Group LLC lifted its position in shares of Heritage Global by 10.7% in the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock worth $1,143,000 after buying an additional 42,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Global by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after buying an additional 47,375 shares during the period. Finally, Ancora Advisors LLC grew its position in shares of Heritage Global by 34.6% during the 1st quarter. Ancora Advisors LLC now owns 472,388 shares of the company’s stock valued at $1,247,000 after buying an additional 121,483 shares during the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

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.