Heritage Global Inc Stock Price, News & Analysis

Heritage Global (NASDAQ: HGBL) announced CEO Ross Dove will present at the Inaugural Emerging Growth Virtual Conference on March 17-18, focusing on asset services in financial and industrial transactions. The event will feature industry leaders in sectors like healthcare and technology, including a fireside chat involving Heritage Global on March 18 at 1:30 p.m. ET. Participants can sign up as M-Vest members for exclusive content and updates.

Heritage Global Partners (HGP) announces its 100th auction for Pfizer equipment assets, enhancing its long-term partnership with the pharmaceutical giant. HGP has supported Pfizer since 2013, facilitating surplus asset sales across over 20 countries. The upcoming Pharmaceutical Sector Sale (PSS) auction will take place from March 17-18, featuring over 450 lots. This collaboration not only aids Pfizer in global asset recovery but also provides life sciences firms opportunities to acquire quality instruments efficiently.

Heritage Global Inc. (NASDAQ: HGBL) announces the election of David Ludwig, President of its Financial Asset Division, to its Board of Directors. This appointment follows the resignation of Allan C. Silber. Ludwig has extensive experience in the financial sector, having joined Heritage Global in 2014 when the company acquired NLEX™, where he has overseen the sale of over 5,000 portfolios valued at $150 billion. CEO Ross Dove expresses confidence in Ludwig’s leadership and industry expertise, anticipating his contributions will support the company's growth strategy.

Heritage Global (NASDAQ: HGBL) reported record fourth quarter results for 2020, achieving a net income of $6.3 million and an adjusted EBITDA of $3.5 million. The company's performance reflects a resilient business model amid pandemic challenges. CEO Ross Dove noted successful large transactions in the quarter, bolstering confidence for 2021, particularly in industrial asset liquidation and increased demand for financial services. Heritage’s robust balance sheet shows stockholders’ equity rose to $29.9 million, up from $11.8 million in 2019.

Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), is set to conduct an online auction from March 24 to March 25, 2021, featuring surplus tractors, trailers, and generators from Halliburton’s Duncan, Oklahoma site. Over 200 assets, including Kenworth T800B tractors and various trailers, will be available. HGP's Senior VP, David Barkoff, expressed confidence in strong bidding interest from the oil and gas sectors. The auction sale catalog is currently posted online, providing equipment details and registration links.

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.