Goldman Sachs Group Inc. Sells 280,925 Shares of B. Riley Financial, Inc. $RILY

Key Points

• Goldman Sachs Group Inc. reduced its stake in B. Riley Financial, Inc. by 60.6% during Q1, now holding approximately 182,991 shares valued at $708,000.
• Other institutional investors have been active, with Charles Schwab Investment Management Inc. increasing its stake by 110.6% during the same quarter.
• B. Riley Financial reported an earnings loss of ($7.74) per share for the recent quarter, alongside revenue of $201.38 million.

Goldman Sachs Group Inc. trimmed its position in B. Riley Financial, Inc. (NASDAQ:RILY - Free Report) by 60.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,991 shares of the asset manager's stock after selling 280,925 shares during the period. Goldman Sachs Group Inc. owned approximately 0.60% of B. Riley Financial worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vident Advisory LLC bought a new stake in B. Riley Financial in the 1st quarter valued at about $41,000. Invesco Ltd. increased its position in B. Riley Financial by 4.6% in the 1st quarter. Invesco Ltd. now owns 161,794 shares of the asset manager's stock valued at $626,000 after buying an additional 7,160 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in B. Riley Financial by 110.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 417,155 shares of the asset manager's stock valued at $1,614,000 after purchasing an additional 219,114 shares during the last quarter. XTX Topco Ltd acquired a new position in B. Riley Financial during the 1st quarter valued at about $232,000. Finally, Federated Hermes Inc. boosted its stake in B. Riley Financial by 87.5% during the 1st quarter. Federated Hermes Inc. now owns 101,113 shares of the asset manager's stock valued at $391,000 after purchasing an additional 47,187 shares during the last quarter. 50.20% of the stock is owned by institutional investors.

B. Riley Financial Stock Performance

RILY stock opened at $6.84 on Wednesday. The company has a market capitalization of $209.30 million, a P/E ratio of -0.27 and a beta of 1.46. B. Riley Financial, Inc. has a 52-week low of $2.67 and a 52-week high of $7.90. The business has a 50-day simple moving average of $5.78 and a two-hundred day simple moving average of $4.20.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The asset manager reported ($7.74) earnings per share (EPS) for the quarter. The business had revenue of $201.38 million during the quarter.

B. Riley Financial Company Profile

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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