B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $21.72

B. Riley Financial, Inc. (NASDAQ:RILY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $30.61. B. Riley Financial shares last traded at $30.79, with a volume of 7,408,675 shares trading hands.

B. Riley Financial Price Performance

The stock has a market cap of $1.06 billion, a P/E ratio of -12.43 and a beta of 1.56. The company has a debt-to-equity ratio of 13.51, a quick ratio of 4.62 and a current ratio of 4.95. The business has a 50 day simple moving average of $20.19 and a 200-day simple moving average of $23.81.

B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings data on Thursday, February 29th. The asset manager reported ($1.86) earnings per share (EPS) for the quarter. The business had revenue of $346.51 million during the quarter. B. Riley Financial had a negative net margin of 4.75% and a negative return on equity of 8.29%.

B. Riley Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a $0.50 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a yield of 5.77%. B. Riley Financial’s dividend payout ratio (DPR) is presently -71.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RILY. New York State Teachers Retirement System lifted its position in shares of B. Riley Financial by 115.1% during the 3rd quarter. New York State Teachers Retirement System now owns 10,278 shares of the asset manager’s stock valued at $421,000 after buying an additional 5,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of B. Riley Financial by 65.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,279 shares of the asset manager’s stock valued at $134,000 after buying an additional 1,295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of B. Riley Financial by 12.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 216,579 shares of the asset manager’s stock valued at $8,878,000 after buying an additional 24,416 shares during the last quarter. Inspire Investing LLC lifted its position in shares of B. Riley Financial by 9.0% during the 3rd quarter. Inspire Investing LLC now owns 7,439 shares of the asset manager’s stock valued at $305,000 after buying an additional 617 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of B. Riley Financial by 15.5% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 776,020 shares of the asset manager’s stock valued at $31,809,000 after buying an additional 104,344 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

About B. Riley Financial

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