Heritage Global Inc. (NASDAQ:HGBL) Short Interest Up 91.2% in September

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 19,500 shares, a growth of 91.2% from the September 15th total of 10,200 shares. Based on an average trading volume of 89,900 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Trading of Heritage Global

Several large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC lifted its position 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 worth $522,000 after purchasing an additional 7,500 shares during the period. Janus Henderson Group PLC bought a new stake in Heritage Global during the 1st quarter valued at approximately $54,000. Herr Investment Group LLC boosted its position in Heritage Global by 10.7% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Heritage Global by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock worth $1,107,000 after acquiring an additional 47,375 shares during the period. Finally, Ancora Advisors LLC raised its position in shares of Heritage Global by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 472,388 shares of the company’s stock worth $1,247,000 after acquiring an additional 121,483 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Stock Performance

Shares of NASDAQ:HGBL opened at $1.65 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.76 and a debt-to-equity ratio of 0.07. The company has a market cap of $61.61 million, a price-to-earnings ratio of 5.50 and a beta of 1.19. Heritage Global has a 12 month low of $1.52 and a 12 month high of $3.53. The company has a 50-day moving average price of $1.77 and a 200-day moving average price of $2.21.

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

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.