B. Riley Financial (NASDAQ:RILY) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Key Points

• B. Riley Financial stock has recently traded above its 50-day moving average of $3.54, reaching a high of $6.12 and closing at $5.95.
• The company has seen significant activity among institutional investors, with over 50% of its stock owned by hedge funds and other institutions.
• B. Riley Financial operates through six segments, providing financial services across multiple regions, including North America, Australia, and Europe.

Shares of B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.54 and traded as high as $6.12. B. Riley Financial shares last traded at $5.95, with a volume of 1,767,074 shares traded.

B. Riley Financial Trading Down 9.7%

The stock's 50-day simple moving average is $3.65 and its 200-day simple moving average is $3.85. The firm has a market capitalization of $168.57 million, a P/E ratio of -0.20 and a beta of 1.43.

Institutional Investors Weigh In On B. Riley Financial

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in B. Riley Financial by 44.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,543 shares of the asset manager's stock worth $44,000 after buying an additional 2,952 shares during the period. Federated Hermes Inc. raised its position in B. Riley Financial by 144.1% in the 4th quarter. Federated Hermes Inc. now owns 53,926 shares of the asset manager's stock worth $248,000 after purchasing an additional 31,835 shares during the period. Toronto Dominion Bank increased its position in shares of B. Riley Financial by 666,766.7% in the fourth quarter. Toronto Dominion Bank now owns 20,006 shares of the asset manager's stock valued at $92,000 after acquiring an additional 20,003 shares during the period. Straight Path Wealth Management increased its position in shares of B. Riley Financial by 12.2% in the first quarter. Straight Path Wealth Management now owns 93,500 shares of the asset manager's stock valued at $362,000 after acquiring an additional 10,200 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of B. Riley Financial by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 61,374 shares of the asset manager's stock valued at $238,000 after buying an additional 4,267 shares during the period. Hedge funds and other institutional investors own 50.20% of the company's stock.

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.