B. Riley Financial (NASDAQ:RILY) Trading 5.8% Higher

B. Riley Financial, Inc. (NASDAQ:RILY)’s share price was up 5.8% on Tuesday . The stock traded as high as $31.92 and last traded at $31.76. Approximately 215,991 shares changed hands during trading, a decline of 85% from the average daily volume of 1,432,662 shares. The stock had previously closed at $30.02.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of B. Riley Financial to a “sell” rating in a research report on Tuesday, April 30th.

B. Riley Financial Stock Performance

The company has a quick ratio of 4.88, a current ratio of 4.88 and a debt-to-equity ratio of 14.33. The stock has a market capitalization of $959.05 million, a price-to-earnings ratio of -11.54 and a beta of 1.34. The stock’s 50-day simple moving average is $22.99 and its 200 day simple moving average is $23.28.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Thursday, February 29th. The asset manager reported ($1.86) EPS for the quarter. B. Riley Financial had a negative return on equity of 8.40% and a negative net margin of 4.75%. The business had revenue of $346.51 million for the quarter.

B. Riley Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were issued a $0.50 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.29%. B. Riley Financial’s dividend payout ratio is -71.68%.

Institutional Investors Weigh In On B. Riley Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its stake in shares of B. Riley Financial by 115.1% during the third quarter. New York State Teachers Retirement System now owns 10,278 shares of the asset manager’s stock valued at $421,000 after purchasing an additional 5,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in B. Riley Financial by 65.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,279 shares of the asset manager’s stock valued at $134,000 after buying an additional 1,295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of B. Riley Financial by 12.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 216,579 shares of the asset manager’s stock valued at $8,878,000 after buying an additional 24,416 shares during the period. Inspire Investing LLC raised its position in shares of B. Riley Financial by 9.0% during the third quarter. Inspire Investing LLC now owns 7,439 shares of the asset manager’s stock worth $305,000 after acquiring an additional 617 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of B. Riley Financial by 15.5% during the third quarter. Punch & Associates Investment Management Inc. now owns 776,020 shares of the asset manager’s stock valued at $31,809,000 after acquiring an additional 104,344 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

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, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.