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

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

Heritage Global Trading Up 1.2 %

HGBL stock traded up $0.02 during mid-day trading on Friday, hitting $1.63. 52,934 shares of the company were exchanged, compared to its average volume of 75,254. The company has a market capitalization of $60.86 million, a PE ratio of 5.82 and a beta of 1.19. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.09. The firm has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $2.05.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HGBL. Jane Street Group LLC acquired a new position in shares of Heritage Global in the 3rd quarter valued at about $25,000. Janus Henderson Group PLC boosted its holdings in shares of Heritage Global by 53.2% in the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after buying an additional 10,068 shares during the period. Connective Capital Management LLC acquired a new position in shares of Heritage Global in the 1st quarter valued at about $538,000. Geode Capital Management LLC boosted its holdings in shares of Heritage Global by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after buying an additional 7,842 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Global by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after buying an additional 47,375 shares during the period. 33.46% of the stock is owned by institutional investors and hedge funds.

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.