Topline Capital Management LLC Takes Position in Heritage Global Inc. (NASDAQ:HGBL)

Topline Capital Management LLC acquired a new stake in Heritage Global Inc. (NASDAQ:HGBL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,927,096 shares of the company's stock, valued at approximately $3,565,000. Heritage Global accounts for approximately 0.7% of Topline Capital Management LLC's holdings, making the stock its 25th biggest holding. Topline Capital Management LLC owned about 5.16% of Heritage Global as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Heritage Global by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company's stock valued at $570,000 after acquiring an additional 7,842 shares during the period. Renaissance Technologies LLC increased its stake in Heritage Global by 2.8% in the 4th quarter. Renaissance Technologies LLC now owns 339,817 shares of the company's stock valued at $629,000 after purchasing an additional 9,222 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Heritage Global during the fourth quarter worth $28,000. Jane Street Group LLC purchased a new stake in Heritage Global during the third quarter worth $25,000. Finally, Truffle Hound Capital LLC acquired a new stake in Heritage Global in the fourth quarter valued at $1,202,000. Hedge funds and other institutional investors own 33.46% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their price target on Heritage Global from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, March 14th.

Heritage Global Trading Up 1.5 %

Shares of HGBL stock traded up $0.03 during trading hours on Wednesday, hitting $2.07. The company's stock had a trading volume of 821 shares, compared to its average volume of 70,665. The business has a fifty day moving average of $2.10 and a 200-day moving average of $1.94. Heritage Global Inc. has a twelve month low of $1.52 and a twelve month high of $2.74. The stock has a market cap of $73.39 million, a price-to-earnings ratio of 7.39 and a beta of 1.23.

Heritage Global (NASDAQ:HGBL - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). Heritage Global had a return on equity of 16.05% and a net margin of 20.60%. The company had revenue of $10.77 million for the quarter, compared to analysts' expectations of $12.30 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.