Bruce Kenneth Hounsell Acquires 10,000 Shares of Heritage Global (NASDAQ:HGBL) Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Bruce Kenneth Hounsell purchased 10,000 shares of Heritage Global stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $1.14 per share, for a total transaction of $11,400.00. Following the completion of the transaction, the insider owned 10,000 shares of the company’s stock, valued at approximately $11,400. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Heritage Global Price Performance

Heritage Global stock traded up $0.08 during trading hours on Monday, hitting $1.17. 656,192 shares of the stock were exchanged, compared to its average volume of 188,356. The stock has a market capitalization of $40.65 million, a P/E ratio of -2.85 and a beta of 0.45. The business’s 50-day moving average is $1.20 and its two-hundred day moving average is $1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.69. Heritage Global Inc. has a 12 month low of $1.01 and a 12 month high of $1.98.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The firm had revenue of $12.27 million during the quarter, compared to the consensus estimate of $13.29 million.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HGBL shares. Weiss Ratings upgraded Heritage Global from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Lake Street Capital decreased their target price on Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a report on Friday. One equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.00.

Institutional Investors Weigh In On Heritage Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HGBL. Punch & Associates Investment Management Inc. bought a new position in Heritage Global in the 2nd quarter valued at $2,446,000. Militia Capital Management LLC bought a new stake in shares of Heritage Global during the first quarter worth $767,000. Rothschild Wealth LLC bought a new stake in shares of Heritage Global during the fourth quarter worth $447,000. Evernest Financial Advisors LLC bought a new stake in shares of Heritage Global during the first quarter worth $274,000. Finally, BlackRock Inc. acquired a new position in shares of Heritage Global during the second quarter valued at $204,000. Institutional investors and hedge funds own 33.46% of the company’s stock.

Heritage Global Company Profile

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.