Welcome to our dedicated page for Heritage Global news (Ticker: HGBL), a resource for investors and traders seeking the latest updates and insights on Heritage Global stock.
Heritage Global Inc. reports on an asset-services business that values and monetizes industrial and financial assets through acquisition, disposition, valuation, brokerage and lending services for surplus and distressed assets. The company operates through Industrial Assets and Financial Assets business units, including Heritage Global Partners for auctions, liquidation and asset advisory work, Heritage Global Valuations for commercial and industrial appraisals, and National Loan Exchange for charged-off and nonperforming asset portfolios.
Recurring company updates include quarterly results, share repurchase activity, asset auctions, valuation and advisory appointments, facility investments, and completed acquisitions such as DebtX, which expands loan-portfolio advisory and secondary-market services within the Financial Assets division.
Heritage Global Inc. (NASDAQ: HGBL) has announced a non-qualified stock option grant under Nasdaq Listing Rule 5635(c)(4) in connection with its acquisition of American Laboratory Trading (ALT). The Heritage Global Board approved an option to purchase 150,000 shares at an exercise price of $1.78, which is equal to the closing stock price on August 20, 2021. This option is granted to Jayson Bernstein, President of ALT, and will vest in equal annual installments over four years commencing August 23, 2021, contingent on his continued employment.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced the acquisition of substantially all assets of American Laboratory Trading (ALT), a leading supplier of refurbished lab equipment in North America. The deal, which includes ALT's property in East Lyme, Connecticut, aims to strengthen HGP's presence in the biotech sector and bolster its operations in New England. CEO Ross Dove emphasized the strategic importance of the acquisition for enhancing shareholder value and expected immediate positive impacts on the bottom line.
Heritage Global (NASDAQ: HGBL) reported its Q2 2021 financial results, indicating challenges due to limited asset flow in both financial and industrial sectors. Operating income fell to $73,000 from $1,024,000 year-over-year, with net income dropping to $587,000 ($0.02 per share) compared to $2,039,000 ($0.07 per share) in Q2 2020. Despite these declines, CEO Ross Dove expressed optimism for increased asset flow in the latter half of 2021 as economic conditions improve and consumer borrowing rises. The company maintains a strong balance sheet, with stockholders’ equity at $31.0 million.
Heritage Global Inc. (NASDAQ: HGBL) will announce its second quarter financial results after market close on August 12, 2021. A webcast and earnings conference call is scheduled for the same day at 5:00 pm ET, where management will discuss the results. Investors can participate via dial-in or through the company’s Investor Relations website. A replay of the call will be available on the website for two weeks. Heritage Global specializes in financial and industrial asset transactions, providing services including valuations, acquisitions, and market making across various sectors.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced its fourth online auction for surplus assets from Halliburton, set for August 17-18, 2021. This auction will feature a variety of equipment including trucks, trailers, cranes, and tanks sourced from Halliburton’s Duncan, Oklahoma site. The auction aims to monetize these assets effectively, following a successful previous auction from the same site. The catalog showcases millions of dollars worth of equipment with detailed descriptions and auction registration links.
Heritage Global Inc. (NASDAQ: HGBL) announced that its CEO, Ross Dove, will present at the D.A. Davidson Bison Select Conference on August 4 at 2 PM ET. Investors can access the presentation via the provided link and will have the option to schedule one-on-one meetings throughout the day. A replay of the presentation will be available for 90 days after the event. Heritage Global specializes in financial and industrial asset transactions, offering services like market making, acquisitions, and valuations across twenty-eight sectors.
Heritage Global Inc. (NASDAQ: HGBL) will join the Russell Microcap® Index following the annual reconstitution effective June 28, 2021. This membership, lasting one year, places HGBL in relevant growth and value style indexes. CEO Ross Dove sees this inclusion as a validation of the company's leadership in financial and industrial asset transactions, potentially increasing stock awareness and future opportunities. Russell indexes benchmark about $10.6 trillion in assets, benefiting investment strategies.
Heritage Global Inc. (NASDAQ: HGBL) will present at the LD Micro Invitational XI on June 8 at 5:00 PM ET. CEO Ross Dove expressed enthusiasm for engaging with current and potential investors, highlighting the event's significance for enhancing the company's investor base. The three-day virtual event, running from June 8-10, features around 180 companies and includes keynotes and the LD Micro Hall of Fame. Heritage Global specializes in asset services, focusing on financial and industrial asset transactions across various sectors.
Heritage Global Inc. (NASDAQ: HGBL) reported strong financial results for Q1 2021, highlighting significant improvements in operating income, net income, and adjusted EBITDA. Operating income reached $1.0 million, up from $94,000 in Q1 2020, while net income increased to $1.0 million or $0.03 per share, compared to $38,000 in the previous year. EBITDA stood at $1.1 million, up from $184,000. The company maintains a solid balance sheet with stockholders' equity of $30.9 million and cash of $15.9 million as of March 31, 2021.
Heritage Global (NASDAQ: HGBL) will announce its Q1 financial results on May 13, 2021, after market close. A conference call will follow at 5:00 PM ET, where management will discuss the financial outcomes. Investors can access the call via provided dial-in numbers and listen to a live webcast on the company’s website. A replay will also be available shortly after the call through May 27, 2021. Heritage Global specializes in financial and industrial asset transactions, offering services across various sectors, including valuations and secured lending.