B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $21.72

B. Riley Financial, Inc. (NASDAQ:RILY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $30.61. B. Riley Financial shares last traded at $30.79, with a volume of 7,408,675 shares.

B. Riley Financial Trading Up 39.1 %

The company has a market capitalization of $924.13 million, a P/E ratio of -11.11 and a beta of 1.56. The company has a debt-to-equity ratio of 13.51, a quick ratio of 4.62 and a current ratio of 4.95. The stock has a fifty day moving average of $19.91 and a 200 day moving average of $23.89.

B. Riley Financial (NASDAQ:RILY) last posted its quarterly earnings data on Thursday, February 29th. The asset manager reported ($1.86) EPS for the quarter. B. Riley Financial had a negative return on equity of 8.29% and a negative net margin of 4.75%. The company had revenue of $346.51 million during the quarter.

B. Riley Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.62%. The ex-dividend date was Friday, March 8th. B. Riley Financial’s dividend payout ratio is currently -71.68%.

Institutional Trading of B. Riley Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. LexAurum Advisors LLC bought a new stake in B. Riley Financial during the 1st quarter valued at approximately $608,000. Ridgewood Investments LLC boosted its holdings in shares of B. Riley Financial by 33.3% in the first quarter. Ridgewood Investments LLC now owns 19,489 shares of the asset manager’s stock valued at $413,000 after purchasing an additional 4,866 shares during the period. Quadrature Capital Ltd purchased a new stake in B. Riley Financial in the fourth quarter worth about $1,001,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of B. Riley Financial by 97.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 45,050 shares of the asset manager’s stock valued at $946,000 after acquiring an additional 22,219 shares during the period. Finally, Virtu Financial LLC purchased a new stake in B. Riley Financial during the fourth quarter valued at approximately $713,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.