Heritage Global (NASDAQ:HGBL) Shares Down 1.6% – Time to Sell?

Heritage Global Inc. (NASDAQ:HGBL)’s stock price was down 1.6% during trading on Thursday . The company traded as low as $1.2450 and last traded at $1.25. 55,533 shares were traded during trading, an increase of 5% from the average daily volume of 53,042 shares. The stock had previously closed at $1.27.

Wall Street Analysts Forecast Growth

HGBL has been the subject of several recent research reports. Lake Street Capital started coverage on Heritage Global in a research report on Friday, March 13th. They set a “buy” rating and a $4.50 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Heritage Global in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Heritage Global Trading Down 1.6%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.95 and a quick ratio of 1.51. The firm has a market cap of $43.42 million, a price-to-earnings ratio of 12.50 and a beta of 0.42. The business’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.31.

Heritage Global (NASDAQ:HGBL) last announced its earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.49 million. Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.

Insider Buying and Selling at Heritage Global

In other Heritage Global news, insider Nicholas Kirk Dove acquired 26,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average price of $1.22 per share, for a total transaction of $31,720.00. Following the completion of the acquisition, the insider directly owned 126,000 shares of the company’s stock, valued at $153,720. This trade represents a 26.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Global

Several large investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. boosted its stake in Heritage Global by 0.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock worth $4,109,000 after buying an additional 21,175 shares during the last quarter. Mink Brook Asset Management LLC lifted its holdings in shares of Heritage Global by 7.8% during the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock worth $2,516,000 after acquiring an additional 146,622 shares during the period. Militia Capital Management LLC purchased a new position in shares of Heritage Global during the 1st quarter worth about $767,000. Rothschild Wealth LLC acquired a new stake in shares of Heritage Global in the fourth quarter worth approximately $447,000. Finally, Evernest Financial Advisors LLC acquired a new stake in shares of Heritage Global in the first quarter worth approximately $274,000. 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.