B. Riley Financial (NASDAQ:RILY) Shares Gap Up to $32.16

B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $32.16, but opened at $33.53. B. Riley Financial shares last traded at $31.70, with a volume of 595,820 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of B. Riley Financial to a "sell" rating in a research report on Tuesday, April 30th.

B. Riley Financial Stock Down 11.3 %

The firm has a market capitalization of $859.59 million, a PE ratio of -10.22 and a beta of 1.34. The company has a debt-to-equity ratio of 14.33, a current ratio of 4.88 and a quick ratio of 4.88. The company has a 50-day moving average price of $24.96 and a 200 day moving average price of $23.21.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The asset manager reported ($1.86) earnings per share for the quarter. The business had revenue of $346.51 million during the quarter. B. Riley Financial had a negative return on equity of 8.40% and a negative net margin of 4.75%.

B. Riley Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 27th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 7.01%. B. Riley Financial's dividend payout ratio is currently -71.68%.

Hedge Funds Weigh In On B. Riley Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of B. Riley Financial by 51,501.0% in the 3rd quarter. FMR LLC now owns 703,837 shares of the asset manager's stock worth $28,850,000 after buying an additional 702,473 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in B. Riley Financial by 619,372.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,568 shares of the asset manager's stock valued at $11,173,000 after buying an additional 272,524 shares during the period. BNP Paribas Financial Markets lifted its position in B. Riley Financial by 818.2% in the fourth quarter. BNP Paribas Financial Markets now owns 181,449 shares of the asset manager's stock worth $3,809,000 after buying an additional 161,687 shares during the last quarter. Victory Capital Management Inc. purchased a new position in B. Riley Financial during the third quarter worth $3,756,000. Finally, Kennedy Capital Management LLC increased its position in B. Riley Financial by 152.5% during the third quarter. Kennedy Capital Management LLC now owns 119,632 shares of the asset manager's stock valued at $4,904,000 after acquiring an additional 72,247 shares during the last quarter. 50.20% of the stock is owned by institutional investors.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.