B. Riley Financial Inc (NASDAQ:RILY) Chairman Bryant R. Riley bought 221,181 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were bought at an average cost of $18.25 per share, for a total transaction of $4,036,553.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of RILY stock opened at $19.75 on Wednesday. The company has a debt-to-equity ratio of 3.79, a current ratio of 3.61 and a quick ratio of 3.61. B. Riley Financial Inc has a 1-year low of $13.55 and a 1-year high of $20.35. The company has a market capitalization of $516.70, a P/E ratio of 30.86 and a beta of 0.95.
B. Riley Financial announced that its Board of Directors has approved a stock repurchase plan on Monday, March 19th that allows the company to repurchase $17.30 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through a private placement purchase. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 20th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.62%. The ex-dividend date is Monday, March 19th. B. Riley Financial’s payout ratio is currently 50.00%.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in B. Riley Financial in the third quarter valued at approximately $116,000. Cornerstone Capital Management Holdings LLC. grew its holdings in B. Riley Financial by 110.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 4,000 shares during the period. Nationwide Fund Advisors grew its holdings in B. Riley Financial by 43.9% in the second quarter. Nationwide Fund Advisors now owns 7,956 shares of the asset manager’s stock valued at $148,000 after purchasing an additional 2,428 shares during the period. MetLife Investment Advisors LLC acquired a new stake in B. Riley Financial in the fourth quarter valued at approximately $192,000. Finally, The Manufacturers Life Insurance Company grew its holdings in B. Riley Financial by 592.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,397 shares of the asset manager’s stock valued at $211,000 after purchasing an additional 9,750 shares during the period. 47.17% of the stock is currently owned by institutional investors.
Separately, BidaskClub raised B. Riley Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th.
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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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