B. Riley Financial (RILY) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of B. Riley Financial (NASDAQ:RILY) from a hold rating to a buy rating in a research report report published on Tuesday.

NASDAQ:RILY opened at $16.75 on Tuesday. The stock has a market cap of $453.85 million, a P/E ratio of 15.19 and a beta of 1.24. B. Riley Financial has a 52-week low of $13.60 and a 52-week high of $23.70. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 5.68.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 19th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, February 14th.

In other news, Chairman Bryant R. Riley bought 50,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $16.93 per share, with a total value of $846,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Moore bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $16.97 per share, for a total transaction of $169,700.00. Following the completion of the acquisition, the chief executive officer now owns 101,916 shares of the company’s stock, valued at $1,729,514.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,197,134 shares of company stock worth $5,037,670. 24.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new position in B. Riley Financial during the fourth quarter worth about $35,000. Metropolitan Life Insurance Co. NY grew its holdings in B. Riley Financial by 417.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,195 shares of the asset manager’s stock worth $102,000 after acquiring an additional 5,804 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in B. Riley Financial during the fourth quarter worth about $200,000. Alliancebernstein L.P. acquired a new position in B. Riley Financial during the third quarter worth about $203,000. Finally, MetLife Investment Advisors LLC boosted its position in shares of B. Riley Financial by 54.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 16,424 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 5,804 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc provides financial services and solutions in North America, Australia, and Europe. The company operates in four segments: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments – United Online. It offers investment banking services, including merger and acquisitions, restructuring advisory, initial and secondary public offerings, and institutional private placements; and corporate finance, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.

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