Heritage Global Inc. (NASDAQ:HGBL) Short Interest Update

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 24,000 shares, a decline of 16.4% from the February 28th total of 28,700 shares. Based on an average trading volume of 73,000 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Heritage Global Trading Down 3.1 %

NASDAQ:HGBL traded down $0.07 on Thursday, hitting $2.18. The company had a trading volume of 6,444 shares, compared to its average volume of 72,766. Heritage Global has a 52 week low of $1.52 and a 52 week high of $2.74. The stock has a market capitalization of $77.38 million, a price-to-earnings ratio of 7.79 and a beta of 1.22. The firm has a 50 day moving average of $2.17 and a two-hundred day moving average of $1.89.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The firm had revenue of $10.77 million during the quarter, compared to the consensus estimate of $12.30 million. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%.

Analysts Set New Price Targets

Separately, Lake Street Capital lowered their target price on Heritage Global from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

Institutional Trading of Heritage Global

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after buying an additional 10,068 shares during the period. Jane Street Group LLC bought a new stake in Heritage Global during the 3rd quarter worth approximately $25,000. Geode Capital Management LLC increased its position in Heritage Global by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after acquiring an additional 7,842 shares during the period. Truffle Hound Capital LLC bought a new position in shares of Heritage Global during the fourth quarter valued at $1,202,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Heritage Global by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock worth $629,000 after purchasing an additional 9,222 shares during the period. 33.46% of the stock is owned by institutional investors and hedge funds.

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.