Shares of diversified financial services platform B. Riley Financial, Inc. (RILY) are on the move, clocking 27% gains over the past month. Additionally, a major insider just scooped up shares in the company.
Our insider trading tool shows RILY Director Randall Paulson bought shares worth $2.09 million yesterday at $52.20 per share. The director has been consistently buying up RILY shares over the past two years and now has a total holding of $11.78 million in the company.
Furthermore, Paulson has seen a 59.1% average return on his investments in RILY over the past 12 months. Overall, insiders have lapped up RILY shares worth $20.5 million over the last three months, indicating a very positive insider confidence signal in the stock.
Hedge Funds Remain Positive
While analysts are yet to discover the stock, hedge funds are moving in big. In the last quarter alone, hedge funds have increased their RILY holdings by 107,800 shares. This implies a very positive hedge fund confidence signal in the stock.
Furthermore, Jean Marie Eveillard’s First Eagle Investment Management has increased its stake in the company by a massive 229.2%, and Kenneth Tropin’s Graham Capital Management has upped its stake by 100%.
Shareholders continue to cheer these positive insider moves in the stock. Additionally, a steady expansion of the top line from $569.8 million in 2019 to $1.6 billion in 2021, a price-to-sales ratio of 1.41, and a TipRanks smart score of 8 indicates the stock may outperform the broader markets in the current challenging macro environment.
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