Heritage Global (NASDAQ:HGBL) Stock Price Down 4.2%

Heritage Global Inc. (NASDAQ:HGBL)’s share price was down 4.2% during trading on Wednesday . The stock traded as low as $1.58 and last traded at $1.58. Approximately 122,297 shares traded hands during trading, an increase of 54% from the average daily volume of 79,238 shares. The stock had previously closed at $1.65.

Heritage Global Trading Down 4.2 %

The company has a current ratio of 1.99, a quick ratio of 1.76 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $1.87 and its 200 day moving average price is $2.26. The stock has a market cap of $59.00 million, a P/E ratio of 5.27 and a beta of 1.19.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Heritage Global had a net margin of 20.29% and a return on equity of 19.14%. The business had revenue of $12.02 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC bought a new position in Heritage Global during the first quarter valued at approximately $54,000. Ridgewood Investments LLC raised its stake in Heritage Global by 3.9% during the 1st quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock valued at $522,000 after buying an additional 7,500 shares during the last quarter. Connective Capital Management LLC bought a new position in shares of Heritage Global during the 1st quarter valued at $538,000. Dimensional Fund Advisors LP boosted its stake in shares of Heritage Global by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock worth $1,107,000 after buying an additional 47,375 shares during the last quarter. Finally, Herr Investment Group LLC boosted its stake in shares of Heritage Global by 10.7% in the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock worth $1,143,000 after buying an additional 42,000 shares during the last quarter. 33.46% of the stock is owned by institutional investors.

About Heritage Global

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.