Heritage Global Inc. (NASDAQ:HGBL) Sees Significant Drop in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 10,500 shares, a drop of 36.4% from the October 15th total of 16,500 shares. Based on an average daily trading volume, of 86,500 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Heritage Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake 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 purchasing an additional 7,842 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 in the last quarter. Jane Street Group LLC acquired a new stake in Heritage Global in the third quarter valued at about $25,000. Herr Investment Group LLC grew its position 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Heritage Global by 11.8% during 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. 33.46% of the stock is currently owned by institutional investors.

Heritage Global Trading Up 1.2 %

Shares of NASDAQ:HGBL opened at $1.63 on Friday. The firm has a 50 day moving average of $1.66 and a 200-day moving average of $2.05. Heritage Global has a 12 month low of $1.52 and a 12 month high of $3.09. The stock has a market capitalization of $60.86 million, a PE ratio of 5.82 and a beta of 1.19.

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.