Citigroup Inc. Sells 6,015 Shares of B. Riley Financial, Inc. (NASDAQ:RILY)

Citigroup Inc. reduced its stake in shares of B. Riley Financial, Inc. (NASDAQ:RILY) by 49.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,158 shares of the asset manager’s stock after selling 6,015 shares during the period. Citigroup Inc.’s holdings in B. Riley Financial were worth $252,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RILY. FMR LLC grew its holdings in B. Riley Financial by 51,501.0% during the 3rd quarter. FMR LLC now owns 703,837 shares of the asset manager’s stock worth $28,850,000 after acquiring an additional 702,473 shares during the period. Ameriprise Financial Inc. grew its holdings in B. Riley Financial by 455.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 584,363 shares of the asset manager’s stock worth $23,953,000 after acquiring an additional 479,077 shares during the period. Marshall Wace LLP grew its holdings in B. Riley Financial by 8,278.8% during the 4th quarter. Marshall Wace LLP now owns 460,835 shares of the asset manager’s stock worth $15,761,000 after acquiring an additional 455,335 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in B. Riley Financial by 619,372.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,568 shares of the asset manager’s stock worth $11,173,000 after acquiring an additional 272,524 shares during the period. Finally, B. Riley Asset Management LLC acquired a new stake in B. Riley Financial during the 4th quarter worth about $5,568,000. 50.20% of the stock is currently owned by institutional investors and hedge funds.

B. Riley Financial Stock Performance

Shares of B. Riley Financial stock opened at $18.97 on Thursday. The company has a current ratio of 4.95, a quick ratio of 4.62 and a debt-to-equity ratio of 13.51. The business has a 50-day moving average price of $19.41 and a two-hundred day moving average price of $26.59. B. Riley Financial, Inc. has a 1-year low of $14.46 and a 1-year high of $60.72. The company has a market cap of $580.10 million, a P/E ratio of -6.80 and a beta of 1.54.

B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings results on Thursday, February 29th. The asset manager reported ($1.86) earnings per share for the quarter. The business had revenue of $346.51 million for the quarter. B. Riley Financial had a negative return on equity of 8.29% and a negative net margin of 4.75%.

B. Riley Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a $0.50 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.00 annualized dividend and a dividend yield of 10.54%. B. Riley Financial’s dividend payout ratio is presently -71.68%.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.