Topline Capital Management LLC Trims Stake in Heritage Global Inc. $HGBL

Key Points

• Topline Capital Management LLC reduced its stake in Heritage Global Inc. by 12.1%, selling 232,352 shares, and now holds approximately 1.69 million shares valued at $3.7 million.
• Heritage Global Inc. reported $0.05 EPS for the most recent quarter, meeting analysts' expectations, with revenue of $14.3 million surpassing estimates of $12.38 million.
• The company's stock is currently trading at $1.93, with a market capitalization of $67.05 million and a PE ratio of 19.30.

Topline Capital Management LLC trimmed its stake in shares of Heritage Global Inc. (NASDAQ:HGBL - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,694,744 shares of the company's stock after selling 232,352 shares during the period. Heritage Global makes up 0.8% of Topline Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Topline Capital Management LLC owned 4.78% of Heritage Global worth $3,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new position in shares of Heritage Global during the fourth quarter valued at approximately $28,000. Two Sigma Securities LLC purchased a new position in shares of Heritage Global during the fourth quarter valued at approximately $28,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Heritage Global during the first quarter valued at approximately $56,000. Parkside Advisors LLC purchased a new position in shares of Heritage Global during the first quarter valued at approximately $74,000. Finally, Ridgewood Investments LLC raised its holdings in shares of Heritage Global by 6.9% during the first quarter. Ridgewood Investments LLC now owns 241,165 shares of the company's stock valued at $526,000 after purchasing an additional 15,588 shares during the last quarter. 33.46% of the stock is owned by hedge funds and other institutional investors.

Heritage Global Stock Performance

Shares of HGBL traded down $0.01 during mid-day trading on Tuesday, hitting $1.91. 17,943 shares of the company traded hands, compared to its average volume of 54,526. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.69 and a current ratio of 2.05. The stock has a 50-day moving average price of $2.11 and a two-hundred day moving average price of $2.11. Heritage Global Inc. has a 1 year low of $1.52 and a 1 year high of $2.39. The stock has a market cap of $66.18 million, a price-to-earnings ratio of 19.05 and a beta of 0.82.

Heritage Global (NASDAQ:HGBL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Heritage Global had a net margin of 7.33% and a return on equity of 5.47%. The firm had revenue of $14.30 million during the quarter, compared to analysts' expectations of $12.38 million.

About Heritage Global

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.