Key Points
- Insider buy: Nicholas Kirk Dove bought 26,000 shares of Heritage Global at an average price of $1.22 per share, spending $31,720. His ownership rose 26% to 126,000 shares.
- Recent earnings were mixed: Heritage Global reported quarterly EPS of $0.02, missing the $0.03 consensus estimate, and revenue of $12.73 million versus expectations of $13.49 million.
- Analyst outlook and stock context: Analysts currently show a Moderate Buy rating with a $4.50 average target price, while the stock recently traded around $1.26, near its 50-day and 200-day moving averages.
Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) insider Nicholas Kirk Dove purchased 26,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $1.22 per share, for a total transaction of $31,720.00. Following the transaction, the insider owned 126,000 shares of the company's stock, valued at approximately $153,720. This trade represents a 26.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Heritage Global Stock Performance
NASDAQ HGBL opened at $1.26 on Thursday. The company's 50 day moving average is $1.32 and its 200-day moving average is $1.32. Heritage Global Inc. has a 12-month low of $1.13 and a 12-month high of $2.32. The company has a quick ratio of 1.51, a current ratio of 1.95 and a debt-to-equity ratio of 0.06. The firm has a market cap of $43.77 million, a P/E ratio of 12.60 and a beta of 0.46.
Heritage Global (NASDAQ:HGBL - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $12.73 million during the quarter, compared to the consensus estimate of $13.49 million. Heritage Global had a net margin of 6.45% and a return on equity of 4.86%.
Institutional Investors Weigh In On Heritage Global
A number of institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC boosted its stake in shares of Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company's stock valued at $122,000 after purchasing an additional 10,672 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Heritage Global by 103.0% in the 3rd quarter. GSA Capital Partners LLP now owns 21,928 shares of the company's stock valued at $36,000 after purchasing an additional 11,126 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Heritage Global by 29.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company's stock valued at $62,000 after purchasing an additional 11,512 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Heritage Global in the 2nd quarter valued at $26,000. Finally, Mink Brook Asset Management LLC boosted its stake in shares of Heritage Global by 0.8% in the 3rd quarter. Mink Brook Asset Management LLC now owns 1,882,222 shares of the company's stock valued at $3,124,000 after purchasing an additional 15,201 shares in the last quarter. Hedge funds and other institutional investors own 33.46% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on HGBL shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Heritage Global in a report on Friday, March 27th. Lake Street Capital started coverage on shares of Heritage Global in a report on Friday, March 13th. They set a "buy" rating and a $4.50 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4.50.
Check Out Our Latest Research Report on Heritage Global
About Heritage Global
(
Get Free Report)
Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.
The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.
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