B. Riley Financial (NASDAQ:RILY) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of B. Riley Financial (NASDAQ:RILY) from a buy rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, B. Riley Financial currently has a consensus rating of “Sell”.

B. Riley Financial Trading Up 2.5%

Shares of NASDAQ:RILY opened at $7.27 on Friday. The company has a 50 day moving average of $7.68 and a 200 day moving average of $6.14. The stock has a market cap of $226.97 million, a P/E ratio of 1.03 and a beta of 1.27. B. Riley Financial has a 12 month low of $2.67 and a 12 month high of $10.97.

B. Riley Financial (NASDAQ:RILY) last posted its earnings results on Wednesday, January 14th. The asset manager reported $2.91 earnings per share (EPS) for the quarter. The firm had revenue of $75.70 million during the quarter.

Hedge Funds Weigh In On B. Riley Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RILY. Farther Finance Advisors LLC purchased a new stake in shares of B. Riley Financial during the 3rd quarter valued at $25,000. Bank of America Corp DE grew its position in B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after acquiring an additional 4,898 shares in the last quarter. Magnus Financial Group LLC purchased a new position in B. Riley Financial in the fourth quarter worth $47,000. Boothbay Fund Management LLC bought a new position in B. Riley Financial in the fourth quarter valued at $60,000. Finally, Cresset Asset Management LLC purchased a new stake in B. Riley Financial during the third quarter valued at about $79,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

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.