Mink Brook Asset Management LLC Purchases New Holdings in Heritage Global Inc. (NASDAQ:HGBL)

Mink Brook Asset Management LLC purchased a new position in shares of Heritage Global Inc. (NASDAQ:HGBL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,867,021 shares of the company's stock, valued at approximately $3,454,000. Heritage Global makes up approximately 3.3% of Mink Brook Asset Management LLC's portfolio, making the stock its 9th biggest position. Mink Brook Asset Management LLC owned 5.00% of Heritage Global at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HGBL. Jane Street Group LLC purchased a new position in Heritage Global in the 3rd quarter valued at about $25,000. NewEdge Advisors LLC acquired a new position in shares of Heritage Global during the fourth quarter valued at approximately $28,000. Two Sigma Securities LLC acquired a new position in Heritage Global in the fourth quarter worth approximately $28,000. Renaissance Technologies LLC grew its position in Heritage Global by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company's stock worth $629,000 after buying an additional 9,222 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Heritage Global by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 361,632 shares of the company's stock worth $669,000 after buying an additional 26,230 shares during the last quarter. Hedge funds and other institutional investors own 33.46% of the company's stock.

Heritage Global Stock Performance

NASDAQ:HGBL opened at $2.18 on Tuesday. The firm's 50-day moving average is $2.10 and its 200-day moving average is $1.97. Heritage Global Inc. has a 52-week low of $1.52 and a 52-week high of $2.74. The company has a market cap of $77.29 million, a price-to-earnings ratio of 7.79 and a beta of 1.22.

Heritage Global (NASDAQ:HGBL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $13.46 million during the quarter, compared to the consensus estimate of $11.91 million. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their price target on shares of Heritage Global from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, March 14th.

Heritage Global Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.