Bruce Kenneth Hounsell Purchases 10,000 Shares of Heritage Global (NASDAQ:HGBL) Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Bruce Kenneth Hounsell purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $1.14 per share, for a total transaction of $11,400.00. Following the completion of the transaction, the insider owned 10,000 shares of the company’s stock, valued at $11,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Global Price Performance

Shares of Heritage Global stock opened at $1.20 on Wednesday. Heritage Global Inc. has a twelve month low of $1.01 and a twelve month high of $1.98. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.27. The stock has a market capitalization of $41.69 million, a price-to-earnings ratio of -2.93 and a beta of 0.45.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The business had revenue of $12.27 million during the quarter, compared to the consensus estimate of $13.29 million.

Institutional Trading of Heritage Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC acquired a new stake in shares of Heritage Global during the 2nd quarter worth approximately $26,000. Virtu Financial LLC bought a new stake in Heritage Global during the third quarter worth $28,000. XTX Topco Ltd bought a new stake in Heritage Global during the fourth quarter worth $31,000. Jane Street Group LLC boosted its holdings in shares of Heritage Global by 196.2% in the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after purchasing an additional 19,642 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Heritage Global by 29.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock valued at $62,000 after purchasing an additional 11,512 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Wall Street Analyst Weigh In

HGBL has been the topic of a number of analyst reports. Weiss Ratings raised Heritage Global from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Lake Street Capital dropped their price objective on Heritage Global from $4.50 to $3.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Heritage Global has an average rating of “Moderate Buy” and a consensus price target of $3.00.

Heritage Global Company Profile

Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.

The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.