B. Riley Financial (NASDAQ:RILY) Issues Earnings Results

B. Riley Financial (NASDAQ:RILY) released its earnings results on Wednesday. The asset manager reported $2.77 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $224.67 million for the quarter.

B. Riley Financial Trading Down 6.1%

B. Riley Financial stock opened at $6.87 on Thursday. B. Riley Financial has a 1-year low of $2.67 and a 1-year high of $10.97. The company has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $6.21. The company has a market cap of $214.48 million, a P/E ratio of 0.70 and a beta of 1.20.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen cut B. Riley Financial from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, B. Riley Financial presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On B. Riley Financial

A number of large investors have recently modified their holdings of RILY. Geode Capital Management LLC grew its holdings in shares of B. Riley Financial by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 194,105 shares of the asset manager’s stock valued at $907,000 after acquiring an additional 1,886 shares in the last quarter. XTX Topco Ltd raised its holdings in B. Riley Financial by 4.2% during the second quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after acquiring an additional 2,531 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in B. Riley Financial during the third quarter valued at approximately $25,000. Bank of America Corp DE boosted its position in B. Riley Financial by 237.2% during the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 4,898 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in B. Riley Financial by 70.0% in the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 7,044 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.