Militia Capital Management LLC Buys Shares of 563,873 Heritage Global Inc. $HGBL

Militia Capital Management LLC purchased a new stake in shares of Heritage Global Inc. (NASDAQ:HGBL) during the 1st quarter, Holdings Channel.com reports. The fund purchased 563,873 shares of the company’s stock, valued at approximately $767,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HGBL. Punch & Associates Investment Management Inc. grew its holdings in shares of Heritage Global by 0.9% in the third quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock worth $4,109,000 after acquiring an additional 21,175 shares during the period. Mink Brook Asset Management LLC lifted its holdings in Heritage Global by 7.8% in the fourth quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after acquiring an additional 146,622 shares during the period. Rothschild Wealth LLC bought a new position in Heritage Global in the fourth quarter valued at about $447,000. Evernest Financial Advisors LLC purchased a new position in Heritage Global in the first quarter worth about $274,000. Finally, Citadel Advisors LLC grew its stake in shares of Heritage Global by 17.0% during the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after purchasing an additional 10,672 shares during the period. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Heritage Global

In related news, insider Nicholas Kirk Dove acquired 26,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were purchased at an average cost of $1.22 per share, with a total value of $31,720.00. Following the transaction, the insider directly owned 126,000 shares in the company, valued at approximately $153,720. This represents a 26.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Heritage Global from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Heritage Global Price Performance

Shares of Heritage Global stock opened at $1.16 on Monday. Heritage Global Inc. has a one year low of $1.13 and a one year high of $2.20. The stock’s fifty day moving average is $1.24 and its 200 day moving average is $1.30. The stock has a market cap of $40.29 million, a P/E ratio of 11.60 and a beta of 0.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.95.

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

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.