B. Riley Financial (NASDAQ:RILY) Releases Quarterly Earnings Results

B. Riley Financial (NASDAQ:RILY) released its quarterly earnings data on Tuesday. The asset manager reported $2.77 earnings per share for the quarter, FiscalAI reports. The business had revenue of $224.67 million during the quarter.

B. Riley Financial Stock Up 7.3%

B. Riley Financial stock traded up $0.50 during trading hours on Tuesday, hitting $7.32. The stock had a trading volume of 1,481,787 shares, compared to its average volume of 812,084. The business’s 50 day simple moving average is $7.50 and its 200-day simple moving average is $6.20. B. Riley Financial has a one year low of $2.67 and a one year high of $10.97. The stock has a market cap of $228.53 million, a price-to-earnings ratio of 1.04 and a beta of 1.27.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RILY. Weiss Ratings reissued a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 29th. Wall Street Zen lowered shares of B. Riley Financial from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RILY. Geode Capital Management LLC boosted its position in B. Riley Financial by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 194,105 shares of the asset manager’s stock worth $907,000 after buying an additional 1,886 shares during the period. XTX Topco Ltd lifted its holdings in shares of B. Riley Financial by 4.2% during the second quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,531 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of B. Riley Financial in the third quarter worth $25,000. Bank of America Corp DE increased its holdings 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 valued at $42,000 after purchasing an additional 4,898 shares during the period. Finally, Engineers Gate Manager LP raised its position in B. Riley Financial by 70.0% during the 2nd quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock worth $51,000 after purchasing an additional 7,044 shares during the last quarter. Institutional investors own 50.20% of the company’s stock.

About B. Riley Financial

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.