B. Riley Financial (NASDAQ:RILY) Issues Quarterly Earnings Results

B. Riley Financial (NASDAQ:RILY) posted its quarterly earnings results on Tuesday. The asset manager reported ($0.50) earnings per share for the quarter, Zacks reports. The business had revenue of $186.06 million during the quarter.

B. Riley Financial Trading Down 13.3%

Shares of NASDAQ RILY traded down $0.67 during mid-day trading on Wednesday, reaching $4.37. The company had a trading volume of 399,637 shares, compared to its average volume of 1,266,437. The stock has a market cap of $133.77 million, a price-to-earnings ratio of -0.17 and a beta of 1.48. B. Riley Financial has a 52 week low of $2.67 and a 52 week high of $7.90. The business’s 50-day moving average is $5.76 and its 200-day moving average is $4.77.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of B. Riley Financial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in B. Riley Financial by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 851,840 shares of the asset manager’s stock valued at $5,090,000 after acquiring an additional 10,189 shares in the last quarter. Soviero Asset Management LP purchased a new stake in shares of B. Riley Financial during the 3rd quarter worth $2,211,000. Millennium Management LLC boosted its position in B. Riley Financial by 51.3% during the third quarter. Millennium Management LLC now owns 367,984 shares of the asset manager’s stock valued at $2,199,000 after purchasing an additional 124,762 shares in the last quarter. Federated Hermes Inc. grew its stake in B. Riley Financial by 78.0% in the second quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager’s stock valued at $534,000 after purchasing an additional 78,847 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of B. Riley Financial by 551.3% in the 3rd quarter. Two Sigma Investments LP now owns 169,977 shares of the asset manager’s stock valued at $1,016,000 after buying an additional 143,877 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.