B. Riley Financial, Inc. (NASDAQ:RILY) Short Interest Update

B. Riley Financial, Inc. (NASDAQ:RILY) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 7,630,000 shares, a drop of 22.5% from the February 28th total of 9,840,000 shares. Currently, 48.0% of the company’s stock are short sold. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is presently 3.9 days.

B. Riley Financial Trading Down 1.3 %

RILY traded down $0.05 during trading on Monday, hitting $3.95. 255,855 shares of the company’s stock traded hands, compared to its average volume of 2,052,269. The stock has a market capitalization of $120.46 million, a price-to-earnings ratio of -0.19 and a beta of 1.23. The company’s 50 day simple moving average is $4.52 and its two-hundred day simple moving average is $4.96. B. Riley Financial has a 12-month low of $2.73 and a 12-month high of $40.09.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings data on Friday, February 21st. The asset manager reported ($4.97) EPS for the quarter. B. Riley Financial had a negative net margin of 48.04% and a negative return on equity of 236.88%. The business had revenue of $199.31 million for the quarter.

Hedge Funds Weigh In On B. Riley Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in B. Riley Financial by 1,085.3% during the third quarter. FMR LLC now owns 10,075 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 9,225 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of B. Riley Financial by 136.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,787 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 12,557 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of B. Riley Financial during the 3rd quarter valued at about $29,000. Point72 DIFC Ltd bought a new position in shares of B. Riley Financial in the 3rd quarter worth approximately $70,000. Finally, XTX Topco Ltd boosted its holdings in shares of B. Riley Financial by 72.9% in the third quarter. XTX Topco Ltd now owns 33,755 shares of the asset manager’s stock worth $177,000 after buying an additional 14,232 shares during the last quarter. 50.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of B. Riley Financial to a “sell” rating in a report on Monday, February 24th.

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.