Heritage Global Inc. (NASDAQ:HGBL) Sees Large Growth in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 28,400 shares, an increase of 17.4% from the December 15th total of 24,200 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 68,600 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Heritage Global

Large investors have recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new stake in Heritage Global in the 3rd quarter valued at $1,801,000. Dimensional Fund Advisors LP lifted 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. Jane Street Group LLC bought a new position in shares of Heritage Global during the 3rd quarter worth about $25,000. Janus Henderson Group PLC lifted its holdings in shares of Heritage Global by 53.2% during the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after acquiring an additional 10,068 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Heritage Global by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after acquiring an additional 7,842 shares during the period. 33.46% of the stock is owned by institutional investors.

Heritage Global Stock Down 1.9 %

Shares of HGBL traded down $0.04 during mid-day trading on Friday, hitting $2.03. 31,251 shares of the company’s stock were exchanged, compared to its average volume of 87,607. The firm has a fifty day moving average of $1.77 and a two-hundred day moving average of $1.87. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.09. The stock has a market cap of $75.80 million, a price-to-earnings ratio of 7.25 and a beta of 1.16.

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.