Renaissance Technologies LLC Purchases New Holdings in B. Riley Financial, Inc. $RILY

Key Points

• Renaissance Technologies acquired 250,218 shares of B. Riley Financial in the first quarter, worth approximately $1.83 million and representing a 0.67% stake.
• Other institutional investors, including Brooklyn Investment Group, Bank of Montreal and Barclays, also increased their positions; institutions collectively own 50.20% of the company.
• Analyst sentiment remains negative: B. Riley Financial has an average “Sell” rating, while the stock recently traded at $7.27 and reported quarterly revenue of $239.36 million with earnings per share of $0.45.

Renaissance Technologies LLC acquired a new position in B. Riley Financial, Inc. (NASDAQ:RILY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 250,218 shares of the asset manager's stock, valued at approximately $1,832,000. Renaissance Technologies LLC owned 0.67% of B. Riley Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its position in shares of B. Riley Financial by 4.2% in the second quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager's stock worth $186,000 after buying an additional 2,531 shares during the period. Brooklyn Investment Group raised its position in B. Riley Financial by 237.4% during the third quarter. Brooklyn Investment Group now owns 30,792 shares of the asset manager's stock valued at $184,000 after buying an additional 21,665 shares during the period. Bank of Montreal Can raised its position in B. Riley Financial by 76.3% during the fourth quarter. Bank of Montreal Can now owns 33,502 shares of the asset manager's stock valued at $156,000 after buying an additional 14,500 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in B. Riley Financial in the 2nd quarter worth about $154,000. Finally, Barclays PLC lifted its stake in B. Riley Financial by 235.5% in the 4th quarter. Barclays PLC now owns 24,609 shares of the asset manager's stock worth $115,000 after acquiring an additional 17,274 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of B. Riley Financial in a research note on Monday, June 15th. Wall Street Zen lowered shares of B. Riley Financial from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, B. Riley Financial currently has an average rating of "Sell".

B. Riley Financial Stock Performance

B. Riley Financial stock opened at $7.27 on Wednesday. B. Riley Financial, Inc. has a 12 month low of $3.64 and a 12 month high of $11.24. The company has a quick ratio of 3.95, a current ratio of 1.40 and a debt-to-equity ratio of 7.13. The stock has a market cap of $292.25 million, a P/E ratio of 0.57 and a beta of 1.23. The company's fifty day simple moving average is $7.76 and its 200-day simple moving average is $7.88.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter. B. Riley Financial had a return on equity of 39,260.09% and a net margin of 35.88%.The firm had revenue of $239.36 million during the quarter.

About B. Riley Financial

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source