Heritage Global Inc Stock Price, News & Analysis

Heritage Global Inc. (NASDAQ: HGBL) will release its fourth quarter and year-end 2020 financial results after market close on March 8, 2021. A webcast and conference call will follow at 5:00 pm ET for discussion on the results. Interested parties can join via phone or access the call via the Investor Relations section of the company's website. A replay will be available shortly after the live call until March 22, 2021. Heritage Global specializes in financial and industrial asset transactions, providing services like acquisitions, dispositions, and valuations.

Heritage Global Inc. (Nasdaq: HGBL) announced the successful sale of a $25 million portfolio of BNPL charged-off accounts by its financial asset sales division, National Loan Exchange (NLEX). President Dave Ludwig noted that the growth of Buy Now, Pay Later (BNPL) options is increasing charge-off inventories, creating new sales opportunities for merchants. With rising debt buyer interest and competitive positioning, NLEX is set to capitalize on this expanding market.

Heritage Global Partners, a subsidiary of Heritage Global, has partnered with Cloud Investment Partners to auction surplus assets from iAero Thrust's MD-80 aircraft. This auction, set for March 9-10, 2021, includes airframes, JT8D-219 engines, and a variety of parts. iAero Thrust is shifting focus to CFM56 engines after discontinuing its JT8D-219 engine repair services. Craig Thompson from HGP and David Weiss from Cloud Investment Partners expressed optimism about a strong auction turnout and competitive pricing.

Heritage Global Inc. (NASDAQ: HGBL) has appointed Samuel L. Shimer as the new Chair of its Board of Directors, following the resignation of Allan C. Silber. Shimer, who has been on the board since April 2001, brings extensive experience from various private equity firms and currently serves as Managing Director at SLC Capital Partners. CEO Ross Dove expressed confidence in Shimer's leadership to support the company's growth strategy. The press release highlights the significance of Shimer's role in guiding Heritage Global's future within the asset services sector.

Heritage Global Inc. (NASDAQ: HGBL) anticipates a significant increase in net operating income (NOI) for Q4 2020, projecting it to at least double from $1.6 million reported in Q3 2020. This growth is attributed to the successful closure of large transactions in the industrial auction sector. CEO Ross Dove expressed satisfaction with the preliminary results, highlighting the company’s strengthened position heading into 2021. Full Q4 and 2020 financial results are expected to be reported by mid-March 2021.

Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), is set to conduct an online auction featuring assets from the SDCCU stadium in San Diego, California. The auction opens on December 14, 2020, and closes on December 16, 2020. Items for sale include mobile and groundskeeping equipment, along with over 600 stadium signs. Additionally, San Diego State University will offer stadium seats for direct purchase beginning December 1. HGP's President, Nick Dove, expressed pride in representing SDSU during this project.

Heritage Global Inc. (NASDAQ: HGBL) is set to release its third quarter 2020 financial results on November 9, 2020, following market close. A conference call will be held at 5:00 pm ET the same day to discuss the results, with participation options available for analysts and investors. The call will also be accessible via the Company's website. Additionally, a replay will be available on the website and via dedicated phone lines until November 23, 2020. Heritage Global specializes in asset services, including market making, acquisitions, and valuations.

Heritage Global (Nasdaq: HGBL) announced a public offering of 4,750,000 shares at $1.75 each, potentially raising about $8.3 million. The underwriters have a 30-day option for an additional 712,500 shares. The offering is set to close on October 6, 2020, pending customary conditions. Proceeds will be used for general corporate purposes, including business expansion and working capital. Lake Street Capital Markets is managing the offering.

Heritage Global Inc. (Nasdaq: HGBL) announced plans for an underwritten public offering of common stock. The offering may include a 30-day option for underwriters to purchase up to an additional 15% of shares sold. Proceeds will be utilized for general corporate purposes, which may encompass business expansions and growth capital. The offering is subject to market conditions and is registered under a shelf registration statement effective since September 15, 2020. Lake Street Capital Markets is the sole book-running manager for this offering.