B. Riley Financial (NASDAQ:RILY) Shares Pass Below 50-Day Moving Average – Here’s What Happened

B. Riley Financial, Inc. (NASDAQ:RILY)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.78 and traded as low as $7.04. B. Riley Financial shares last traded at $7.55, with a volume of 3,879,211 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RILY. Wall Street Zen raised B. Riley Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of B. Riley Financial in a research report on Monday, June 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

B. Riley Financial Trading Up 6.2%

The company has a market capitalization of $280.33 million, a PE ratio of 0.45 and a beta of 1.18. The company has a debt-to-equity ratio of 10.30, a current ratio of 3.95 and a quick ratio of 3.95. The company’s fifty day moving average is $8.78 and its 200-day moving average is $7.53.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings results on Thursday, May 7th. The asset manager reported $6.57 EPS for the quarter. B. Riley Financial had a negative return on equity of 330.83% and a net margin of 46.81%.The firm had revenue of $217.19 million during the quarter.

Hedge Funds Weigh In On B. Riley Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of B. Riley Financial by 237.2% during the 3rd quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 4,898 shares during the last quarter. Russell Investments Group Ltd. increased its position in B. Riley Financial by 144.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock valued at $43,000 after buying an additional 8,582 shares in the last quarter. Jump Financial LLC acquired a new position in B. Riley Financial during the 2nd quarter valued at about $45,000. Magnus Financial Group LLC purchased a new stake in B. Riley Financial in the fourth quarter valued at about $47,000. Finally, Engineers Gate Manager LP raised its stake 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 valued at $51,000 after buying an additional 7,044 shares during the last quarter. 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.