Wall Street Zen Upgrades B. Riley Financial (NASDAQ:RILY) to “Buy”

B. Riley Financial (NASDAQ:RILY) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of B. Riley Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, B. Riley Financial presently has a consensus rating of “Sell”.

B. Riley Financial Stock Performance

Shares of RILY stock opened at $8.36 on Friday. The company has a market capitalization of $255.82 million, a P/E ratio of 1.19 and a beta of 1.24. B. Riley Financial has a fifty-two week low of $2.67 and a fifty-two week high of $10.97. The stock has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $5.73.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RILY. XTX Topco Ltd raised its holdings in B. Riley Financial by 4.2% in the 2nd quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,531 shares in the last quarter. Addison Advisors LLC increased its position in shares of B. Riley Financial by 37.8% during the second quarter. Addison Advisors LLC now owns 11,545 shares of the asset manager’s stock valued at $34,000 after buying an additional 3,165 shares during the period. Farther Finance Advisors LLC bought a new position in B. Riley Financial in the third quarter worth about $25,000. Bank of America Corp DE raised its stake in B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock worth $42,000 after buying an additional 4,898 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in B. Riley Financial by 70.0% in the second quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock worth $51,000 after buying an additional 7,044 shares during the period. 50.20% of the stock is owned by hedge funds and other institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.