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

Heritage Global (NASDAQ:HGBLFree 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

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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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