Heritage Global Inc. (NASDAQ:HGBL) Director Samuel L. Shimer Purchases 10,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) Director Samuel L. Shimer acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were bought at an average cost of $2.95 per share, with a total value of $29,500.00. Following the completion of the acquisition, the director now owns 297,500 shares of the company’s stock, valued at approximately $877,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Heritage Global Trading Up 4.8 %

NASDAQ HGBL opened at $3.06 on Friday. The stock has a 50-day simple moving average of $3.45 and a 200 day simple moving average of $3.26. The company has a market capitalization of $113.68 million, a PE ratio of 6.38 and a beta of 1.29. The company has a current ratio of 1.91, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. Heritage Global Inc. has a 12 month low of $1.51 and a 12 month high of $4.08.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.07 earnings per share (EPS) for the quarter. Heritage Global had a return on equity of 37.24% and a net margin of 31.81%. The company had revenue of $13.10 million during the quarter.

Analyst Ratings Changes

HGBL has been the subject of a number of research reports. Lake Street Capital raised their target price on Heritage Global from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Craig Hallum initiated coverage on Heritage Global in a research note on Tuesday, May 30th. They issued a “buy” rating for the company. Finally, 500.com reaffirmed an “initiates” rating on shares of Heritage Global in a research note on Tuesday, May 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Heritage Global in the fourth quarter valued at approximately $26,000. State Street Corp increased its holdings in shares of Heritage Global by 101.4% during the 2nd quarter. State Street Corp now owns 23,870 shares of the company’s stock worth $36,000 after acquiring an additional 12,019 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Heritage Global during the 1st quarter worth approximately $43,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Heritage Global during the 4th quarter worth approximately $45,000. Finally, Prudential Financial Inc. increased its holdings in shares of Heritage Global by 40.7% during the 1st quarter. Prudential Financial Inc. now owns 16,600 shares of the company’s stock worth $48,000 after acquiring an additional 4,800 shares during the last quarter. 27.06% of the stock is currently owned by institutional investors.

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 provides market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets.