Heritage Global's (HGBL) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Heritage Global's stock has been reaffirmed with a "hold (C-)" rating by Weiss Ratings, with an average target price set at $4.00.
• The company reported earnings of $0.05 per share for the most recent quarter, matching analysts' expectations, with revenues significantly surpassing estimates at $14.30 million.
• Institutional investors now hold 33.46% of Heritage Global's shares, indicating increasing interest from hedge funds and investment firms.

Heritage Global (NASDAQ:HGBL - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on the stock. Zacks Research upgraded shares of Heritage Global to a "hold" rating in a report on Thursday, September 4th. Singular Research upgraded shares of Heritage Global to a "strong-buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.00.

Heritage Global Trading Up 2.2%

HGBL opened at $1.61 on Wednesday. The firm's fifty day moving average is $1.87 and its two-hundred day moving average is $2.04. 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 firm has a market cap of $55.93 million, a PE ratio of 16.10 and a beta of 0.65. Heritage Global has a twelve month low of $1.56 and a twelve month high of $2.39.

Heritage Global (NASDAQ:HGBL - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Heritage Global had a net margin of 7.33% and a return on equity of 5.47%. The company had revenue of $14.30 million for the quarter, compared to analyst estimates of $12.38 million.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HGBL. Evergreen Capital Management LLC bought a new position in Heritage Global in the second quarter valued at $26,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Heritage Global in the 1st quarter valued at about $56,000. Ridgewood Investments LLC grew its position in shares of Heritage Global by 6.9% in the 1st quarter. Ridgewood Investments LLC now owns 241,165 shares of the company's stock valued at $526,000 after acquiring an additional 15,588 shares during the period. Ancora Advisors LLC grew its position in shares of Heritage Global by 1.2% in the 1st quarter. Ancora Advisors LLC now owns 514,269 shares of the company's stock valued at $1,121,000 after acquiring an additional 6,000 shares during the period. Finally, Militia Capital Partners LP grew its position in shares of Heritage Global by 6.6% in the 1st quarter. Militia Capital Partners LP now owns 584,478 shares of the company's stock valued at $1,274,000 after acquiring an additional 36,000 shares during the period. Institutional investors own 33.46% of the company's stock.

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.

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