B. Riley Financial, Inc. (NASDAQ:RILY) Short Interest Down 22.5% in March

B. Riley Financial, Inc. (NASDAQ:RILY) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 7,630,000 shares, a drop of 22.5% from the February 28th total of 9,840,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is presently 3.9 days. Approximately 48.0% of the shares of the company are short sold.

Hedge Funds Weigh In On B. Riley Financial

Large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of B. Riley Financial by 144.1% during the 4th quarter. Federated Hermes Inc. now owns 53,926 shares of the asset manager’s stock valued at $248,000 after buying an additional 31,835 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of B. Riley Financial by 666,766.7% during the fourth quarter. Toronto Dominion Bank now owns 20,006 shares of the asset manager’s stock worth $92,000 after acquiring an additional 20,003 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of B. Riley Financial in the third quarter worth $100,000. XTX Topco Ltd grew its position in shares of B. Riley Financial by 72.9% in the third quarter. XTX Topco Ltd now owns 33,755 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 14,232 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of B. Riley Financial during the 3rd quarter valued at $70,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

B. Riley Financial Stock Performance

NASDAQ RILY traded down $0.01 on Wednesday, hitting $3.88. 426,007 shares of the stock traded hands, compared to its average volume of 1,998,092. The business’s fifty day moving average is $4.48 and its two-hundred day moving average is $4.93. B. Riley Financial has a 12 month low of $2.73 and a 12 month high of $40.09. The firm has a market capitalization of $118.33 million, a price-to-earnings ratio of -0.19 and a beta of 1.34.

B. Riley Financial (NASDAQ:RILY) last posted its quarterly earnings results on Friday, February 21st. The asset manager reported ($4.97) earnings per share for the quarter. B. Riley Financial had a negative return on equity of 236.88% and a negative net margin of 48.04%. The firm had revenue of $199.31 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of B. Riley Financial to a “sell” rating in a research report on Monday, February 24th.

B. Riley Financial Company Profile

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.