Heritage Global Inc. (NASDAQ:HGBL) Sees Significant Drop in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 10,500 shares, a decline of 36.4% from the October 15th total of 16,500 shares. Based on an average daily volume of 86,500 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Heritage Global Stock Performance

Shares of NASDAQ:HGBL traded up $0.02 during trading hours on Friday, hitting $1.63. The stock had a trading volume of 52,934 shares, compared to its average volume of 75,254. The stock’s fifty day simple moving average is $1.66 and its 200 day simple moving average is $2.05. Heritage Global has a 1-year low of $1.52 and a 1-year high of $3.09. The firm has a market capitalization of $60.86 million, a price-to-earnings ratio of 5.82 and a beta of 1.19.

Institutional Investors Weigh In On Heritage Global

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased 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 valued at $570,000 after purchasing an additional 7,842 shares during the period. Jane Street Group LLC bought a new position in shares of Heritage Global in the third quarter valued at approximately $25,000. Janus Henderson Group PLC boosted its holdings 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 valued at $49,000 after acquiring an additional 10,068 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Heritage Global in the third quarter valued at approximately $1,801,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Global by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after acquiring an additional 47,375 shares in the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

About Heritage Global

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.