Heritage Global (NASDAQ:HGBL) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Heritage Global (NASDAQ:HGBL) in a report published on Friday morning, MarketBeat reports. The firm issued a buy rating and a $4.50 target price on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.50.

Heritage Global Stock Performance

HGBL stock opened at $1.17 on Friday. Heritage Global has a 1-year low of $1.15 and a 1-year high of $2.39. The business has a 50-day moving average price of $1.33 and a 200 day moving average price of $1.45. The company has a market capitalization of $40.65 million, a P/E ratio of 10.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.29 and a quick ratio of 1.89.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $11.86 million for the quarter, compared to the consensus estimate of $12.89 million. Heritage Global had a return on equity of 5.45% and a net margin of 7.04%.

Institutional Investors Weigh In On Heritage Global

A number of hedge funds have recently made changes to their positions in HGBL. XTX Topco Ltd purchased a new position in Heritage Global in the fourth quarter valued at about $31,000. Rothschild Wealth LLC bought a new position in Heritage Global in the fourth quarter worth about $447,000. Mink Brook Asset Management LLC lifted its position in shares of Heritage Global by 7.8% during the fourth quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after buying an additional 146,622 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Heritage Global by 196.2% during the fourth quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after buying an additional 19,642 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Heritage Global by 29.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock valued at $62,000 after buying an additional 11,512 shares during the last quarter. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Global

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.