B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $21.72

B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $30.61. B. Riley Financial shares last traded at $30.79, with a volume of 7,408,675 shares.

B. Riley Financial Trading Up 37.0 %

The firm has a 50-day moving average price of $19.97 and a 200-day moving average price of $23.77. The company has a debt-to-equity ratio of 13.51, a quick ratio of 4.62 and a current ratio of 4.95. The stock has a market cap of $909.84 million, a PE ratio of -10.66 and a beta of 1.56.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The asset manager reported ($1.86) EPS for the quarter. The business had revenue of $346.51 million for the quarter. B. Riley Financial had a negative net margin of 4.75% and a negative return on equity of 8.29%.

B. Riley Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.72%. B. Riley Financial's payout ratio is currently -71.68%.

Hedge Funds Weigh In On B. Riley Financial

Hedge funds have recently made changes to their positions in the business. Inspire Investing LLC grew its stake in shares of B. Riley Financial by 9.0% in the 3rd quarter. Inspire Investing LLC now owns 7,439 shares of the asset manager's stock worth $305,000 after buying an additional 617 shares in the last quarter. Rhumbline Advisers lifted its position in B. Riley Financial by 1.8% in the third quarter. Rhumbline Advisers now owns 51,038 shares of the asset manager's stock worth $2,092,000 after buying an additional 899 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in B. Riley Financial by 65.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,279 shares of the asset manager's stock valued at $134,000 after acquiring an additional 1,295 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of B. Riley Financial in the fourth quarter valued at $29,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of B. Riley Financial by 18.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,922 shares of the asset manager's stock worth $694,000 after acquiring an additional 2,592 shares during the last quarter. Institutional investors own 50.20% of the company's stock.

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, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.