B. Riley Financial, Inc. (NASDAQ:RILY) Short Interest Up 23.3% in March

Financial News Live · Apr 19, 2023 03:13

B. Riley Financial, Inc. (NASDAQ:RILY – Get Rating) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,290,000 shares, a growth of 23.3% from the March 15th total of 3,480,000 shares. Based on an average daily volume of 549,400 shares, the days-to-cover ratio is currently 7.8 days. Approximately 30.3% of the company's stock are short sold.

B. Riley Financial Price Performance

Shares of B. Riley Financial stock traded up $0.68 on Tuesday, hitting $30.36. The company's stock had a trading volume of 200,953 shares, compared to its average volume of 522,817. B. Riley Financial has a 1 year low of $24.95 and a 1 year high of $63.72. The firm has a fifty day moving average price of $34.23 and a 200-day moving average price of $38.90. The company has a debt-to-equity ratio of 9.15, a current ratio of 3.95 and a quick ratio of 3.95.

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B. Riley Financial (NASDAQ:RILY – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The asset manager reported ($1.89) EPS for the quarter. B. Riley Financial had a negative return on equity of 21.39% and a negative net margin of 17.46%. The firm had revenue of $326.81 million for the quarter.

B. Riley Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Friday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $4.00 annualized dividend and a yield of 13.18%. B. Riley Financial's dividend payout ratio (DPR) is currently -66.12%.

Insider Transactions at B. Riley Financial

In other B. Riley Financial news, CEO Bryant R. Riley acquired 25,000 shares of the stock in a transaction dated Friday, March 17th. The stock was purchased at an average price of $29.90 per share, with a total value of $747,500.00. Following the transaction, the chief executive officer now directly owns 6,620,631 shares of the company's stock, valued at $197,956,866.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Moore acquired 20,000 shares of the firm's stock in a transaction dated Wednesday, February 8th. The stock was acquired at an average price of $38.75 per share, with a total value of $775,000.00. Following the acquisition, the chief executive officer now directly owns 281,105 shares in the company, valued at approximately $10,892,818.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bryant R. Riley acquired 25,000 shares of the firm's stock in a transaction dated Friday, March 17th. The stock was bought at an average cost of $29.90 per share, with a total value of $747,500.00. Following the acquisition, the chief executive officer now owns 6,620,631 shares in the company, valued at $197,956,866.90. The disclosure for this purchase can be found here. Insiders acquired 110,448 shares of company stock valued at $3,787,033 in the last quarter. 27.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On B. Riley Financial

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in shares of B. Riley Financial by 109.2% in the third quarter. Global Retirement Partners LLC now owns 615 shares of the asset manager's stock valued at $25,000 after purchasing an additional 321 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of B. Riley Financial by 51.8% in the third quarter. Public Employees Retirement System of Ohio now owns 686 shares of the asset manager's stock valued at $31,000 after purchasing an additional 234 shares in the last quarter. FMR LLC grew its position in shares of B. Riley Financial by 137.8% in the second quarter. FMR LLC now owns 861 shares of the asset manager's stock valued at $36,000 after purchasing an additional 499 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of B. Riley Financial in the fourth quarter valued at approximately $44,000. Finally, US Bancorp DE grew its position in shares of B. Riley Financial by 289.8% in the first quarter. US Bancorp DE now owns 686 shares of the asset manager's stock valued at $48,000 after purchasing an additional 510 shares in the last quarter. 45.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on B. Riley Financial in a research note on Thursday, March 16th. They issued a "sell" rating for the company.

B. Riley Financial Company Profile

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B. Riley Financial, Inc engages in the provision of financial services and solutions to the capital raising and financial advisory needs of public and private firms. It operates through the following segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.