Truffle Hound Capital LLC Buys New Stake in Heritage Global Inc. (NASDAQ:HGBL)

Truffle Hound Capital LLC bought a new stake in Heritage Global Inc. (NASDAQ:HGBL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 650,000 shares of the company’s stock, valued at approximately $1,202,000.

Several other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after buying an additional 7,842 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after buying an additional 10,068 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Heritage Global in the third quarter valued at $25,000. Hedge funds and other institutional investors own 33.46% of the company’s stock.

Heritage Global Price Performance

NASDAQ HGBL opened at $2.16 on Friday. Heritage Global Inc. has a 1 year low of $1.52 and a 1 year high of $2.84. The company has a market capitalization of $76.67 million, a PE ratio of 7.71 and a beta of 1.22. The company has a fifty day moving average of $2.14 and a two-hundred day moving average of $1.85.

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

Analysts Set New Price Targets

Separately, Lake Street Capital dropped their target price on Heritage Global from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 14th.

Heritage Global Profile

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.