Nicholas Kirk Dove Acquires 26,000 Shares of Heritage Global (NASDAQ:HGBL) Stock

Heritage Global Inc. (NASDAQ:HGBL) insider Nicholas Kirk Dove acquired 26,000 shares of the stock in a transaction on Thursday, May 21st. The stock was bought at an average price of $1.22 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Heritage Global Stock Performance

Shares of HGBL opened at $1.26 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.95 and a quick ratio of 1.51. Heritage Global Inc. has a one year low of $1.13 and a one year high of $2.32. The company has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.32. The firm has a market capitalization of $43.77 million, a PE ratio of 12.60 and a beta of 0.46.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Lake Street Capital assumed coverage on shares of Heritage Global in a research note on Friday, March 13th. They set a “buy” rating and a $4.50 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Heritage Global in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned 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 price target of $4.50.

Hedge Funds Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Militia Capital Management LLC bought a new position in shares of Heritage Global during the first quarter valued at approximately $767,000. Evernest Financial Advisors LLC bought a new position in shares of Heritage Global during the first quarter valued at approximately $274,000. XTX Topco Ltd bought a new position in shares of Heritage Global during the fourth quarter valued at approximately $31,000. Rothschild Wealth LLC bought a new position in shares of Heritage Global during the fourth quarter valued at approximately $447,000. Finally, Mink Brook Asset Management LLC increased its stake in shares of Heritage Global by 7.8% during 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 purchasing an additional 146,622 shares in the last quarter. Institutional investors 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.