Heritage Global (NASDAQ:HGBL) Price Target Lowered to $4.00 at Lake Street Capital

Heritage Global (NASDAQ:HGBL) had its target price trimmed by Lake Street Capital from $5.00 to $4.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Heritage Global Price Performance

Shares of NASDAQ HGBL opened at $2.36 on Friday. The stock has a market capitalization of $88.12 million, a P/E ratio of 8.43 and a beta of 1.22. Heritage Global has a 1-year low of $1.52 and a 1-year high of $3.02. The business has a fifty day moving average price of $2.11 and a 200 day moving average price of $1.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Topline Capital Management LLC acquired a new position in Heritage Global during the 4th quarter valued at about $3,565,000. Mink Brook Asset Management LLC acquired a new position in Heritage Global during the 4th quarter valued at about $3,454,000. Truffle Hound Capital LLC acquired a new position in Heritage Global during the 4th quarter valued at about $1,202,000. Geode Capital Management LLC increased its position in Heritage Global by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 361,632 shares of the company’s stock valued at $669,000 after buying an additional 26,230 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Heritage Global by 2.8% during the 4th quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock valued at $629,000 after buying an additional 9,222 shares in the last quarter. 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.