B. Riley Financial Inc (NASDAQ:RILY) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,224,357 shares, a growth of 61.9% from the November 30th total of 756,402 shares. Based on an average trading volume of 120,333 shares, the days-to-cover ratio is currently 10.2 days. Currently, 7.9% of the shares of the company are sold short.
B. Riley Financial (NASDAQ:RILY) opened at $18.40 on Friday. B. Riley Financial has a 12-month low of $13.55 and a 12-month high of $21.30. The company has a market cap of $480.39, a PE ratio of 12.19 and a beta of 0.99. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.99 and a quick ratio of 2.99.
In other B. Riley Financial news, CEO Bryant R. Riley bought 8,679 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $17.75 per share, with a total value of $154,052.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bryant R. Riley bought 7,325 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $17.15 per share, for a total transaction of $125,623.75. The disclosure for this purchase can be found here. Insiders purchased a total of 54,576 shares of company stock worth $969,729 in the last quarter. Insiders own 30.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC acquired a new position in shares of B. Riley Financial during the third quarter worth approximately $966,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of B. Riley Financial by 110.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock worth $130,000 after buying an additional 4,000 shares during the last quarter. NWQ Investment Management Company LLC raised its stake in shares of B. Riley Financial by 70.4% during the third quarter. NWQ Investment Management Company LLC now owns 709,864 shares of the asset manager’s stock worth $12,103,000 after buying an additional 293,398 shares during the last quarter. Royce & Associates LP raised its stake in shares of B. Riley Financial by 1,083.2% during the third quarter. Royce & Associates LP now owns 279,540 shares of the asset manager’s stock worth $4,766,000 after buying an additional 255,914 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of B. Riley Financial by 41.7% during the third quarter. California State Teachers Retirement System now owns 34,316 shares of the asset manager’s stock worth $585,000 after buying an additional 10,100 shares during the last quarter. Institutional investors own 45.81% of the company’s stock.
Separately, BidaskClub lowered shares of B. Riley Financial from a “hold” rating to a “sell” rating in a research report on Wednesday.
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About B. Riley Financial
B. Riley Financial, Inc is an independent investment bank. The Company’s segments include capital markets, auction and liquidation, valuation and appraisal, and Principal Investments-United Online. The capital markets segment provides an array of investment banking, corporate finance, research, wealth management, sales and trading services to corporate, institutional and high net worth clients.
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