B. Riley Financial Inc (RILY) Sees Significant Growth in Short Interest

B. Riley Financial Inc (NASDAQ:RILY) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,224,357 shares, an increase of 61.9% from the November 30th total of 756,402 shares. Based on an average daily volume of 120,333 shares, the days-to-cover ratio is currently 10.2 days. Approximately 7.9% of the shares of the company are short sold.

Shares of B. Riley Financial (RILY) traded down $0.10 on Monday, reaching $19.55. The company had a trading volume of 42,150 shares, compared to its average volume of 48,607. The stock has a market cap of $520.09, a PE ratio of 12.95 and a beta of 0.99. B. Riley Financial has a 1 year low of $13.55 and a 1 year high of $21.30. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.99 and a quick ratio of 2.99.

B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings results on Wednesday, November 8th. The asset manager reported $0.31 earnings per share for the quarter. B. Riley Financial had a return on equity of 17.98% and a net margin of 9.87%.

Separately, BidaskClub raised B. Riley Financial from a “sell” rating to a “hold” rating in a research note on Friday.

In other news, Chairman Bryant R. Riley bought 38,572 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were purchased at an average cost of $17.89 per share, with a total value of $690,053.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bryant R. Riley bought 7,325 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $17.15 per share, for a total transaction of $125,623.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 54,576 shares of company stock worth $969,729. Company insiders own 30.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in B. Riley Financial during the 3rd quarter valued at about $116,000. Cornerstone Capital Management Holdings LLC. grew its stake in B. Riley Financial by 110.3% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 7,627 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 4,000 shares in the last quarter. Nationwide Fund Advisors grew its stake in B. Riley Financial by 43.9% during the 2nd quarter. Nationwide Fund Advisors now owns 7,956 shares of the asset manager’s stock valued at $148,000 after acquiring an additional 2,428 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in B. Riley Financial by 592.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,397 shares of the asset manager’s stock valued at $211,000 after acquiring an additional 9,750 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in B. Riley Financial during the 3rd quarter valued at about $210,000. 45.81% of the stock is currently owned by institutional investors.

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B. Riley Financial Company Profile

B. Riley Financial, Inc is an independent investment bank. The Company’s segments include capital markets, auction and liquidation, valuation and appraisal, and Principal Investments-United Online. The capital markets segment provides an array of investment banking, corporate finance, research, wealth management, sales and trading services to corporate, institutional and high net worth clients.

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