Traders Buy High Volume of Put Options on B. Riley Financial (NASDAQ:RILY)
Traders engaged in significant options trading on B. Riley Financial (NASDAQ:RILY), purchasing 49,295 put options, marking a 54% increase compared to the typical daily volume. Institutional investors are also adjusting their positions, with notable increases in holdings from several firms. The stock opened down 4.1%, with a market cap of $368.56 million, while recent analyst reviews have set a "sell" rating for the company. Despite institutional ownership at 50.20%, analysts believe there are better investment options than B. Riley Financial currently available.
B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) was the target of unusually large options trading on Tuesday. Stock traders purchased 49,295 put options on the stock. This is an increase of 54% compared to the average daily volume of 31,993 put options.
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Institutional Trading of B. Riley Financial
- Breakout Watch: Sonic Automotive, B. Riley Financial, TC PipeLines
Hedge funds and other institutional investors have recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new position in B. Riley Financial during the 4th quarter worth approximately $29,000. Public Sector Pension Investment Board grew its position in shares of B. Riley Financial by 5.0% during the second quarter. Public Sector Pension Investment Board now owns 36,008 shares of the asset manager's stock worth $635,000 after acquiring an additional 1,729 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of B. Riley Financial by 17.4% in the 2nd quarter. Inspire Investing LLC now owns 20,004 shares of the asset manager's stock valued at $353,000 after acquiring an additional 2,968 shares during the period. XTX Topco Ltd raised its position in B. Riley Financial by 26.4% in the 2nd quarter. XTX Topco Ltd now owns 19,523 shares of the asset manager's stock valued at $344,000 after purchasing an additional 4,072 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its stake in B. Riley Financial by 33.3% during the 1st quarter. Ridgewood Investments LLC now owns 19,489 shares of the asset manager's stock worth $413,000 after purchasing an additional 4,866 shares during the period. Institutional investors and hedge funds own 50.20% of the company's stock.
B. Riley Financial Trading Down 4.1 %
Shares of B. Riley Financial stock opened at $5.96 on Tuesday. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 13.99. The company has a fifty day simple moving average of $15.30 and a 200-day simple moving average of $20.73. The stock has a market cap of $180.56 million, a price-to-earnings ratio of -1.19 and a beta of 1.32. B. Riley Financial has a 12-month low of $4.51 and a 12-month high of $52.74.
Analysts Set New Price Targets
Separately, StockNews.com raised B. Riley Financial to a "sell" rating in a report on Wednesday, August 14th.
Get Our Latest Analysis on RILY
B. Riley Financial Company Profile
(Get Free Report)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.
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