Truffle Hound Capital LLC Acquires New Shares in Heritage Global Inc. (NASDAQ:HGBL)

Truffle Hound Capital LLC acquired a new stake in Heritage Global Inc. (NASDAQ:HGBL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 650,000 shares of the company’s stock, valued at approximately $1,202,000. Truffle Hound Capital LLC owned about 1.74% of Heritage Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in 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 during the period. Janus Henderson Group PLC raised its position 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 purchasing an additional 10,068 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Heritage Global in the third quarter valued at approximately $25,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Heritage Global Trading Down 3.1 %

Heritage Global stock opened at $2.16 on Friday. Heritage Global Inc. has a twelve month low of $1.52 and a twelve month high of $2.84. The stock’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $1.85. The firm has a market capitalization of $76.67 million, a P/E ratio of 7.71 and a beta of 1.22.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Heritage Global had a return on equity of 16.05% and a net margin of 20.60%. The company had revenue of $10.77 million for the quarter, compared to analysts’ expectations of $12.30 million.

Wall Street Analyst Weigh In

Separately, Lake Street Capital cut their target price on Heritage Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 14th.

Heritage Global 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.