Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Declines By 15.4%

Heritage Global Inc. (NASDAQ:HGBL) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 16,500 shares, a decline of 15.4% from the September 30th total of 19,500 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 88,800 shares, the days-to-cover ratio is currently 0.2 days.

Heritage Global Price Performance

NASDAQ:HGBL opened at $1.68 on Thursday. Heritage Global has a 52 week low of $1.52 and a 52 week high of $3.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.76 and a current ratio of 1.99. The firm’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $2.12. The firm has a market cap of $62.73 million, a price-to-earnings ratio of 5.60 and a beta of 1.19.

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

Institutional Trading of Heritage Global

Several large investors have recently modified their holdings of HGBL. Herr Investment Group LLC lifted its position in Heritage Global by 10.7% during the first quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock worth $1,143,000 after purchasing an additional 42,000 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Heritage Global during the 1st quarter worth approximately $54,000. Connective Capital Management LLC acquired a new stake in shares of Heritage Global during the 1st quarter worth approximately $538,000. Ancora Advisors LLC increased its stake in Heritage Global by 34.6% in the first quarter. Ancora Advisors LLC now owns 472,388 shares of the company’s stock valued at $1,247,000 after acquiring an additional 121,483 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Heritage Global by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after purchasing an additional 47,375 shares in the last quarter. 33.46% of the stock is owned by institutional investors and hedge funds.

Heritage Global Company 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.