Heritage Global (NASDAQ:HGBL) Trading Down 4.2%

Shares of Heritage Global Inc. (NASDAQ:HGBL) fell 4.2% during mid-day trading on Wednesday . The company traded as low as $1.58 and last traded at $1.58. 122,297 shares traded hands during mid-day trading, an increase of 54% from the average session volume of 79,238 shares. The stock had previously closed at $1.65.

Heritage Global Stock Performance

The company’s 50 day simple moving average is $1.87 and its 200 day simple moving average is $2.26. The stock has a market cap of $59.00 million, a PE ratio of 5.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.76 and a current ratio of 1.99.

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

Hedge Funds Weigh In On Heritage Global

A number of large investors have recently made changes to their positions in HGBL. Ridgewood Investments LLC raised its holdings in shares of Heritage Global by 3.9% in the 1st quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock valued at $522,000 after acquiring an additional 7,500 shares in the last quarter. Herr Investment Group LLC increased its position in shares of Heritage Global by 10.7% in the first quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock valued at $1,143,000 after acquiring an additional 42,000 shares during the period. Janus Henderson Group PLC bought a new position in shares of Heritage Global during the first quarter valued at approximately $54,000. Connective Capital Management LLC bought a new stake in shares of Heritage Global during the 1st quarter valued at about $538,000. Finally, Ancora Advisors LLC raised 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 worth $1,247,000 after buying an additional 121,483 shares in the last quarter. 33.46% of the stock is owned by institutional investors.

About Heritage Global

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.