Heritage Global (NASDAQ:HGBL – Free Report) had its price objective lowered by Lake Street Capital from $5.00 to $4.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Heritage Global Stock Performance
Shares of HGBL stock opened at $2.36 on Friday. The stock’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $1.83. The firm has a market capitalization of $88.12 million, a PE ratio of 8.43 and a beta of 1.22. Heritage Global has a fifty-two week low of $1.52 and a fifty-two week high of $3.02.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Heritage Global in the third quarter valued at about $25,000. NewEdge Advisors LLC purchased a new stake in shares of Heritage Global in the fourth quarter worth about $28,000. Two Sigma Securities LLC purchased a new stake in shares of Heritage Global in the fourth quarter worth about $28,000. Janus Henderson Group PLC boosted its stake in shares of Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after buying an additional 10,068 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after buying an additional 7,842 shares during the last quarter. 33.46% of the stock is owned by institutional investors and hedge funds.
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.
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