Insider Selling: Heritage Global Inc. (NASDAQ:HGBL) Insider Sells 7,000 Shares of Stock

Heritage Global Inc. (NASDAQ:HGBL) insider David Van Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $1.97, for a total transaction of $13,790.00. Following the completion of the transaction, the insider now owns 900,479 shares of the company’s stock, valued at $1,773,943.63. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

David Van Ludwig also recently made the following trade(s):

• On Thursday, March 6th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.07, for a total transaction of $20,700.00.
• On Wednesday, February 26th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.02, for a total transaction of $20,200.00.
• On Wednesday, February 12th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.24, for a total transaction of $22,400.00.
• On Wednesday, January 29th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.13, for a total transaction of $21,300.00.
• On Wednesday, January 15th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $2.07, for a total transaction of $20,700.00.
• On Wednesday, January 8th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $1.99, for a total transaction of $19,900.00.
• On Wednesday, December 18th, David Van Ludwig sold 10,000 shares of Heritage Global stock. The shares were sold at an average price of $1.75, for a total transaction of $17,500.00.

Heritage Global Stock Performance

Shares of NASDAQ:HGBL opened at $2.36 on Friday. The stock has a market capitalization of $88.12 million, a price-to-earnings ratio of 8.43 and a beta of 1.22. Heritage Global Inc. has a 1-year low of $1.52 and a 1-year high of $3.02. The company’s fifty day moving average is $2.11 and its two-hundred day moving average is $1.83.

Analyst Ratings Changes

Separately, Lake Street Capital cut their price target on shares of Heritage Global from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday.

Institutional Trading of Heritage Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. Topline Capital Management LLC acquired a new stake in shares of Heritage Global during the fourth quarter worth $3,565,000. Mink Brook Asset Management LLC bought a new position in shares of Heritage Global during the fourth quarter worth about $3,454,000. Truffle Hound Capital LLC bought a new position in shares of Heritage Global during the fourth quarter worth about $1,202,000. Geode Capital Management LLC grew its position in shares of Heritage Global by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 361,632 shares of the company’s stock worth $669,000 after acquiring an additional 26,230 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Heritage Global by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock worth $629,000 after acquiring an additional 9,222 shares during 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.