Heritage Global Inc. (NASDAQ:HGBL) Sees Significant Decline in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 10,500 shares, a decrease of 36.4% from the October 15th total of 16,500 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 86,500 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HGBL. Koshinski Asset Management Inc. bought a new stake in Heritage Global in the 3rd quarter valued at about $1,801,000. Ancora Advisors LLC boosted its stake in shares of Heritage Global by 34.6% in the first quarter. Ancora Advisors LLC now owns 472,388 shares of the company’s stock valued at $1,247,000 after buying an additional 121,483 shares during the period. Dimensional Fund Advisors LP grew its position in Heritage Global by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock worth $1,107,000 after buying an additional 47,375 shares in the last quarter. Herr Investment Group LLC raised its holdings in Heritage Global by 10.7% in the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock valued at $1,143,000 after acquiring an additional 42,000 shares in the last quarter. Finally, 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. Institutional investors own 33.46% of the company’s stock.

Heritage Global Trading Up 1.2 %

Shares of NASDAQ HGBL opened at $1.63 on Friday. The firm has a market cap of $60.86 million, a P/E ratio of 5.82 and a beta of 1.19. The business’s 50 day moving average is $1.66 and its 200-day moving average is $2.05. Heritage Global has a 1-year low of $1.52 and a 1-year high of $3.09.

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.