B. Riley Financial Inc (NASDAQ:RILY) Short Interest Up 27.1% in September

B. Riley Financial Inc (NASDAQ:RILY) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 825,300 shares, an increase of 27.1% from the August 31st total of 649,400 shares. Based on an average daily volume of […]

B. Riley Financial Inc (NASDAQ:RILY) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 825,300 shares, an increase of 27.1% from the August 31st total of 649,400 shares. Based on an average daily volume of 108,900 shares, the days-to-cover ratio is presently 7.6 days. Currently, 5.8% of the company’s shares are sold short.

In other B. Riley Financial news, Director Randall E. Paulson acquired 25,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $26.96 per share, for a total transaction of $674,000.00. Following the completion of the purchase, the director now directly owns 38,343 shares in the company, valued at $1,033,727.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bryant R. Riley acquired 1,224 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were acquired at an average price of $25.59 per share, with a total value of $31,322.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 64,506 shares of company stock valued at $1,733,063. 26.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in B. Riley Financial by 7.4% in the first quarter. Rhumbline Advisers now owns 34,341 shares of the asset manager’s stock valued at $633,000 after acquiring an additional 2,375 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in B. Riley Financial by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 166,449 shares of the asset manager’s stock valued at $3,066,000 after acquiring an additional 7,044 shares in the last quarter. State Street Corp raised its holdings in B. Riley Financial by 2.7% in the first quarter. State Street Corp now owns 416,982 shares of the asset manager’s stock valued at $7,681,000 after acquiring an additional 11,058 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in B. Riley Financial by 23.8% in the first quarter. JPMorgan Chase & Co. now owns 34,712 shares of the asset manager’s stock valued at $639,000 after acquiring an additional 6,663 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of B. Riley Financial by 43.4% during the first quarter. Citigroup Inc. now owns 5,961 shares of the asset manager’s stock worth $110,000 after purchasing an additional 1,803 shares during the period. 45.79% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub downgraded shares of B. Riley Financial from a “buy” rating to a “hold” rating in a research note on Thursday, September 24th.

RILY opened at $25.06 on Thursday. The company has a 50 day moving average of $26.39 and a two-hundred day moving average of $21.56. B. Riley Financial has a 52-week low of $12.94 and a 52-week high of $30.17. The company has a quick ratio of 5.31, a current ratio of 5.31 and a debt-to-equity ratio of 5.24. The company has a market cap of $637.85 million, a P/E ratio of 24.10 and a beta of 0.95.

B. Riley Financial (NASDAQ:RILY) last posted its earnings results on Thursday, July 30th. The asset manager reported $3.39 EPS for the quarter. B. Riley Financial had a net margin of 12.52% and a return on equity of 19.27%. The business had revenue of $266.47 million for the quarter.

B. Riley Financial Company Profile

B. Riley Financial, Inc, through its subsidiaries, provides collaborative financial services and solutions in North America, Australia, and Europe. The company operates in four segments: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments – United Online and magicJack.

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