Allspring Global Investments Holdings LLC Trims Holdings in B. Riley Financial, Inc. (NASDAQ:RILY)

Allspring Global Investments Holdings LLC reduced its holdings in shares of B. Riley Financial, Inc. (NASDAQ:RILY) by 24.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,007 shares of the asset manager’s stock after selling 71,887 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.72% of B. Riley Financial worth $4,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of B. Riley Financial by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,192,119 shares of the asset manager’s stock valued at $48,865,000 after buying an additional 43,247 shares during the last quarter. FMR LLC lifted its stake in B. Riley Financial by 51,501.0% during the third quarter. FMR LLC now owns 703,837 shares of the asset manager’s stock worth $28,850,000 after purchasing an additional 702,473 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in B. Riley Financial by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 326,428 shares of the asset manager’s stock worth $6,852,000 after purchasing an additional 49,973 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in B. Riley Financial by 4.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 225,392 shares of the asset manager’s stock worth $4,731,000 after purchasing an additional 8,813 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in B. Riley Financial by 818.2% during the fourth quarter. BNP Paribas Financial Markets now owns 181,449 shares of the asset manager’s stock worth $3,809,000 after purchasing an additional 161,687 shares during the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded B. Riley Financial to a “sell” rating in a research note on Tuesday, April 30th.

B. Riley Financial Stock Performance

RILY traded down $0.70 during trading hours on Tuesday, hitting $16.75. 291,317 shares of the stock were exchanged, compared to its average volume of 1,256,590. The stock has a 50-day simple moving average of $26.67 and a 200-day simple moving average of $22.68. B. Riley Financial, Inc. has a 12 month low of $14.46 and a 12 month high of $60.72. The stock has a market cap of $507.53 million, a price-to-earnings ratio of -3.32 and a beta of 1.32. The company has a debt-to-equity ratio of 13.99, a current ratio of 4.88 and a quick ratio of 4.88.

B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings results on Wednesday, May 15th. The asset manager reported ($1.71) earnings per share (EPS) for the quarter. B. Riley Financial had a negative net margin of 9.28% and a negative return on equity of 25.84%. The firm had revenue of $343.03 million for the quarter.

B. Riley Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 27th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.94%. The ex-dividend date was Thursday, May 23rd. B. Riley Financial’s dividend payout ratio (DPR) is -39.92%.

B. Riley Financial 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.