ExodusPoint Capital Management LP Boosts Stake in B. Riley Financial, Inc. (NASDAQ:RILY)

Posted by Defense World Staff on Jun 9th, 2023

ExodusPoint Capital Management LP increased its stake in shares of B. Riley Financial, Inc. (NASDAQ:RILY – Get Rating) by 899.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,547 shares of the asset manager’s stock after purchasing an additional 51,792 shares during the period. ExodusPoint Capital Management LP owned approximately 0.20% of B. Riley Financial worth $1,968,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RILY. JPMorgan Chase & Co. boosted its position in B. Riley Financial by 30.1% in the 1st quarter. JPMorgan Chase & Co. now owns 35,923 shares of the asset manager’s stock valued at $2,513,000 after buying an additional 8,321 shares during the period. Bank of New York Mellon Corp grew its stake in shares of B. Riley Financial by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 376,528 shares of the asset manager’s stock worth $26,342,000 after acquiring an additional 13,491 shares in the last quarter. US Bancorp DE grew its stake in shares of B. Riley Financial by 289.8% in the first quarter. US Bancorp DE now owns 686 shares of the asset manager’s stock worth $48,000 after acquiring an additional 510 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of B. Riley Financial by 22.4% in the first quarter. Private Advisor Group LLC now owns 3,467 shares of the asset manager’s stock worth $242,000 after acquiring an additional 635 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of B. Riley Financial by 57.2% in the first quarter. MetLife Investment Management LLC now owns 10,318 shares of the asset manager’s stock worth $722,000 after acquiring an additional 3,755 shares in the last quarter. Hedge funds and other institutional investors own 45.72% of the company’s stock.

Insider Activity at B. Riley Financial

In related news, CEO Bryant R. Riley purchased 12,963 shares of B. Riley Financial stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average cost of $29.87 per share, with a total value of $387,204.81. Following the completion of the transaction, the chief executive officer now directly owns 6,595,631 shares in the company, valued at $197,011,497.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Bryant R. Riley purchased 12,963 shares of B. Riley Financial stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average cost of $29.87 per share, with a total value of $387,204.81. Following the completion of the transaction, the chief executive officer now directly owns 6,595,631 shares in the company, valued at $197,011,497.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kenneth M. Young purchased 2,485 shares of B. Riley Financial stock in a transaction that occurred on Friday, March 17th. The stock was bought at an average cost of $31.46 per share, with a total value of $78,178.10. Following the completion of the transaction, the president now owns 32,085 shares of the company’s stock, valued at $1,009,394.10. The disclosure for this purchase can be found here. Insiders purchased a total of 80,448 shares of company stock valued at $2,533,033 over the last ninety days. Insiders own 33.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of B. Riley Financial in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

B. Riley Financial Stock Performance

NASDAQ:RILY opened at $37.81 on Friday. The company has a fifty day simple moving average of $32.89 and a two-hundred day simple moving average of $36.74. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -7.40 and a beta of 1.79. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 12.01. B. Riley Financial, Inc. has a 52 week low of $24.95 and a 52 week high of $59.09.

B. Riley Financial (NASDAQ:RILY – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The asset manager reported $0.51 earnings per share (EPS) for the quarter. The business had revenue of $432.09 million during the quarter. B. Riley Financial had a negative net margin of 11.61% and a negative return on equity of 19.46%.

B. Riley Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th were given a dividend of $1.00 per share. The ex-dividend date was Monday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 10.58%. B. Riley Financial’s dividend payout ratio (DPR) is currently -78.28%.

B. Riley Financial Profile

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B. Riley Financial, Inc engages in the provision of financial services and solutions to the capital raising and financial advisory needs of public and private firms. It operates through the following segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.