Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Drops By 15.4%

Heritage Global Inc. (NASDAQ:HGBL) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 16,500 shares, a decline of 15.4% from the September 30th total of 19,500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 88,800 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Heritage Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new position in Heritage Global in the third quarter valued at about $1,801,000. Janus Henderson Group PLC bought a new position in shares of Heritage Global in the first quarter worth about $54,000. Dimensional Fund Advisors LP raised its stake in shares of Heritage Global by 11.8% in the second 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 last quarter. Ancora Advisors LLC raised its stake in shares of 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 acquiring an additional 121,483 shares during the last quarter. Finally, Connective Capital Management LLC bought a new position in shares of Heritage Global in the first quarter worth about $538,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Heritage Global Price Performance

Shares of Heritage Global stock opened at $1.69 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.76 and a current ratio of 1.99. The firm’s 50-day simple moving average is $1.68 and its 200-day simple moving average is $2.13. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.53. The firm has a market cap of $63.11 million, a P/E ratio of 5.63 and a beta of 1.19.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Heritage Global had a net margin of 20.29% and a return on equity of 19.14%. The business had revenue of $12.02 million for the quarter.

Heritage Global Company Profile

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.