Short Interest in B. Riley Financial, Inc. (NASDAQ:RILY) Decreases By 22.5%

B. Riley Financial, Inc. (NASDAQ:RILY) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 7,630,000 shares, a drop of 22.5% from the February 28th total of 9,840,000 shares. Currently, 48.0% of the shares of the company are sold short. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is presently 3.9 days.

B. Riley Financial Stock Up 0.5 %

Shares of NASDAQ RILY traded up $0.02 during midday trading on Tuesday, reaching $3.89. 457,548 shares of the stock were exchanged, compared to its average volume of 1,999,997. The firm has a market cap of $118.63 million, a price-to-earnings ratio of -0.19 and a beta of 1.23. The firm has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $4.94. B. Riley Financial has a twelve month low of $2.73 and a twelve month high of $40.09.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings data on Friday, February 21st. The asset manager reported ($4.97) earnings per share for the quarter. B. Riley Financial had a negative net margin of 48.04% and a negative return on equity of 236.88%. The firm had revenue of $199.31 million during the quarter.

Institutional Investors Weigh In On B. Riley Financial

A number of institutional investors have recently added to or reduced their stakes in RILY. FMR LLC increased its stake in shares of B. Riley Financial by 1,085.3% during the third quarter. FMR LLC now owns 10,075 shares of the asset manager’s stock worth $53,000 after purchasing an additional 9,225 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of B. Riley Financial by 136.0% during the third quarter. BNP Paribas Financial Markets now owns 21,787 shares of the asset manager’s stock worth $114,000 after purchasing an additional 12,557 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in B. Riley Financial in the 3rd quarter valued at $29,000. Point72 DIFC Ltd acquired a new stake in B. Riley Financial during the 3rd quarter worth $70,000. Finally, XTX Topco Ltd raised its position in shares of B. Riley Financial by 72.9% in the third quarter. XTX Topco Ltd now owns 33,755 shares of the asset manager’s stock valued at $177,000 after buying an additional 14,232 shares during the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised B. Riley Financial to a “sell” rating in a research report on Monday, February 24th.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.