Heritage Global (NASDAQ:HGBL) Price Target Lowered to $4.00 at Lake Street Capital

Heritage Global (NASDAQ:HGBL) had its target price cut by Lake Street Capital from $5.00 to $4.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Heritage Global Price Performance

Shares of HGBL opened at $2.36 on Friday. The firm has a market cap of $88.12 million, a PE ratio of 8.43 and a beta of 1.22. The stock’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $1.84. Heritage Global has a 1 year low of $1.52 and a 1 year high of $2.90.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The firm had revenue of $10.77 million during the quarter, compared to the consensus estimate of $12.30 million. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%.

Hedge Funds Weigh In On Heritage Global

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Heritage Global by 2.4% in the third 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 in the last quarter. Renaissance Technologies LLC grew its position in shares of Heritage Global by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock valued at $629,000 after purchasing an additional 9,222 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of 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 purchasing an additional 10,068 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Heritage Global in the fourth quarter valued at $28,000. Finally, Jane Street Group LLC purchased a new position in shares of Heritage Global in the third quarter valued at $25,000. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

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.