Lake Street Capital Cuts Heritage Global (NASDAQ:HGBL) Price Target to $4.00

Heritage Global (NASDAQ:HGBL) had its target price lowered by Lake Street Capital from $5.00 to $4.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Heritage Global Stock Up 12.9 %

Shares of Heritage Global stock opened at $2.36 on Friday. The company has a market cap of $88.12 million, a PE ratio of 8.43 and a beta of 1.22. Heritage Global has a 52 week low of $1.52 and a 52 week high of $2.90. The business has a 50 day moving average price of $2.11 and a 200-day moving average price of $1.84.

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

Institutional Trading of Heritage Global

A number of hedge funds have recently bought and sold shares of HGBL. Janus Henderson Group PLC lifted its holdings 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 acquiring an additional 10,068 shares during the period. Jane Street Group LLC bought a new stake in Heritage Global during the third quarter worth $25,000. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 7,842 shares during the period. Truffle Hound Capital LLC bought a new stake in Heritage Global during the fourth quarter worth $1,202,000. Finally, Renaissance Technologies LLC lifted its holdings in Heritage Global by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock worth $629,000 after acquiring an additional 9,222 shares during the period. 33.46% of the stock is currently owned by institutional investors.

Heritage Global Company 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.