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

Key Points

• B. Riley Financial reported a **loss** of **$7.74** earnings per share (EPS) for the quarter, with total revenue of **$201.38 million**.
• The company's stock has **decreased by 1.3%**, trading at **$6.82** with a market capitalization of **$208.01 million**.
• Institutional investors increased their stakes significantly, with Russell Investments Group lifting its stake by **144.9%** in the second quarter.

B. Riley Financial (NASDAQ:RILY - Get Free Report) issued its quarterly earnings results on Wednesday. The asset manager reported ($7.74) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $201.38 million during the quarter.

B. Riley Financial Stock Down 1.3%

RILY traded down $0.09 during trading on Friday, hitting $6.82. The company's stock had a trading volume of 1,980,819 shares, compared to its average volume of 1,496,244. B. Riley Financial has a twelve month low of $2.67 and a twelve month high of $9.05. The stock's fifty day moving average price is $4.36 and its 200-day moving average price is $3.95. The firm has a market capitalization of $208.01 million, a P/E ratio of -0.25 and a beta of 1.45.

Hedge Funds Weigh In On B. Riley Financial

Several institutional investors have recently added to or reduced their stakes in RILY. Russell Investments Group Ltd. lifted its stake in B. Riley Financial by 144.9% in the second quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager's stock valued at $43,000 after buying an additional 8,582 shares during the period. Jump Financial LLC bought a new stake in shares of B. Riley Financial during the second quarter valued at approximately $45,000. Engineers Gate Manager LP increased its holdings in shares of B. Riley Financial by 70.0% during the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager's stock valued at $51,000 after acquiring an additional 7,044 shares in the last quarter. XTX Topco Ltd increased 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 valued at $186,000 after acquiring an additional 2,531 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of B. Riley Financial by 78.0% during the second quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager's stock valued at $534,000 after acquiring an additional 78,847 shares in the last quarter. 50.20% of the stock is owned by institutional investors and hedge funds.

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.

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