Key Points
- CEO Ross Dove sold 300,000 Heritage Global shares at an average price of $1.33, generating $399,000 and reducing his ownership by 12.92% to 2,021,917 shares.
- Heritage Global reported a quarterly loss of $0.46 per share, missing the $0.04 consensus estimate, while revenue of $12.27 million came in below expectations of $13.29 million.
- The stock has an average analyst rating of “Hold” and a $3.00 consensus price target; shares recently opened at $1.30, with institutional investors owning 33.46% of the company.
Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) CEO Ross Dove sold 300,000 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $1.33, for a total transaction of $399,000.00. Following the completion of the sale, the chief executive officer owned 2,021,917 shares of the company's stock, valued at $2,689,149.61. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Heritage Global Stock Performance
NASDAQ:HGBL opened at $1.30 on Wednesday. The company has a market cap of $45.03 million, a P/E ratio of -3.17 and a beta of 0.46. Heritage Global Inc. has a twelve month low of $1.01 and a twelve month high of $1.72. The company's 50-day moving average price is $1.23 and its 200-day moving average price is $1.27. The company has a current ratio of 1.69, a quick ratio of 1.29 and a debt-to-equity ratio of 0.08.
Heritage Global (NASDAQ:HGBL - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The business had revenue of $12.27 million for the quarter, compared to analysts' expectations of $13.29 million.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Lake Street Capital cut their price target on Heritage Global from $4.50 to $3.00 and set a "buy" rating for the company in a report on Friday, August 14th. Weiss Ratings raised Heritage Global from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.00.
View Our Latest Research Report on Heritage Global
Institutional Investors Weigh In On Heritage Global
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Heritage Global during the second quarter worth about $204,000. Evernest Financial Advisors LLC acquired a new position in Heritage Global in the 1st quarter valued at about $274,000. Militia Capital Management LLC purchased a new stake in shares of Heritage Global in the 1st quarter valued at approximately $767,000. Finally, Punch & Associates Investment Management Inc. purchased a new stake in shares of Heritage Global in the 2nd quarter valued at approximately $2,446,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.
About Heritage Global
(
Get Free Report)
Heritage Global, Inc (NASDAQ:HGBL) is an asset services company that helps businesses, lenders, governments and other organizations monetize surplus, specialized and distressed assets. Through its operating subsidiaries, the company provides auction, liquidation, brokerage, valuation and advisory services for industrial, commercial and financial assets.
Heritage Global's services include live and online auctions, negotiated sales, asset appraisals, valuations, inventory management and other capital-recovery solutions.
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