Heritage Global (NASDAQ:HGBL) Shares Down 5% – Here’s What Happened

Shares of Heritage Global Inc. (NASDAQ:HGBL) fell 5% during trading on Thursday . The company traded as low as $2.08 and last traded at $2.10. 78,683 shares changed hands during trading, an increase of 30% from the average session volume of 60,657 shares. The stock had previously closed at $2.21.

Heritage Global Price Performance

The business’s 50 day simple moving average is $2.01 and its 200 day simple moving average is $1.82. The company has a market capitalization of $75.80 million, a PE ratio of 7.25 and a beta of 1.17.

Hedge Funds Weigh In On Heritage Global

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new position in Heritage Global during the fourth quarter worth about $28,000. Jane Street Group LLC purchased a new position in Heritage Global during the third quarter worth about $25,000. Two Sigma Securities LLC purchased a new position in Heritage Global during the fourth quarter worth about $28,000. Janus Henderson Group PLC raised its stake in Heritage Global by 53.2% during the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after purchasing an additional 10,068 shares during the period. Finally, Geode Capital Management LLC raised its stake in Heritage Global by 2.4% during the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after purchasing an additional 7,842 shares during the period. 33.46% of the stock is owned by hedge funds and other institutional investors.

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.