Heritage Global Inc Stock Price, News & Analysis

Heritage Global Valuations, a division of Heritage Global Inc. (NASDAQ: HGBL), has appointed Rick Wiorek as a Director. With over 34 years of experience in industrial machinery appraisal, Wiorek will focus on asset-based lending appraisals and financial reporting. His addition is part of HGV's strategy to enhance its national valuation platform. Charles Seeley, Managing Director, highlighted Wiorek's expertise in the Midwest market as a key benefit to the firm. Michael Goldstein, Executive Managing Director, expressed confidence that Wiorek's knowledge will strengthen HGV's asset valuation and consulting services.

HGV specializes in the valuation of commercial and industrial assets, leveraging a proprietary database and market knowledge to provide accurate appraisals for clients.

Heritage Global Inc. (NASDAQ:HGBL) will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 11:00 AM PST. CEO Ross Dove will lead the presentation and answer questions afterward. Interested investors can access the live webcast via this link.

Additionally, 1x1 meetings can be arranged during the event. Those wishing to attend must register at this page. If unable to attend live, webcasts will be available on the event platform post-presentation.

Heritage Global (NASDAQ: HGBL) has appointed Bill Burnham to its Board of Directors. Burnham brings over 20 years of investment and capital markets experience, having founded Inductive Capital and previously worked with SOFTBANK and Mobius Venture Capital. CEO Ross Dove expressed optimism, stating that Burnham's experience will significantly contribute to the growth of Heritage Global's Industrial and Financial Assets sectors. The company aims to leverage the current economic environment to enhance demand for its asset disposal and debt brokerage services. Burnham is excited about joining at this pivotal growth stage.

Heritage Global Inc. (NASDAQ: HGBL) reported strong financial results for Q4 and the full year 2022. Q4 operating income rose to $3.1 million, up from $1.4 million in 2021. Net income reached $10.0 million or $0.27 per diluted share, compared to $960,000 or $0.03 in Q4 2021. Annual net operating income hit a record $11.1 million, significantly exceeding the 2020 milestone of $6.1 million. The company also recognized a tax benefit of $6.8 million. CEO Ross Dove expressed optimism for 2023, citing strong demand across both operating divisions.

Heritage Global (NASDAQ:HGBL) has been invited to present at the Third Annual Winter Wonderland - Best Ideas Virtual Investor conference from February 21-24, 2023. CEO Ross Dove is scheduled to present on February 22, 2023, at 11:00 a.m. ET. The presentation will be available for live streaming and replay, with additional details accessible via a provided link. One-on-one meetings with management will be available throughout the event. Heritage Global specializes in valuing and monetizing industrial and financial assets, contributing to the circular economy.

Heritage Global Inc. (NASDAQ: HGBL) will release its fourth quarter and year-end 2022 financial results on March 9, 2023, after market close. A webcast and conference call for investors and analysts will be held on the same day at 5:00 pm ET. Participants can join the call via provided dial-in numbers or through the Company’s website. A replay will be available through March 23, 2023. Heritage Global specializes in financial and industrial asset transactions, offering services such as valuation, acquisition, and disposition of surplus and distressed assets, contributing to the circular economy.

Heritage Global Capital (HGC), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has funded financial portfolio acquisitions totaling $100 million. This achievement highlights HGC's capability to navigate the growing charge-off volume in the current economic landscape. CEO Ross Dove emphasized the strength of client relationships and lending partnerships in reaching this milestone. David Ludwig, President of Financial Assets, noted that their borrower clients exceeded collection forecasts, indicating strong financial stability as they anticipate continued growth into 2023.

Heritage Global Inc. (NASDAQ: HGBL) and American Laboratory Trading are set to conduct an online auction of laboratory equipment from Rubius Therapeutics. The auction will open on January 9 at 7:00 AM ET and close on January 11 at 10:00 AM ET. Key items include various bio-reactors, mass spectrometers, and automated workstations, with anticipated high interest from biotechs nationwide. Jayson Bernstein and Nick Dove express confidence in the auction's appeal, highlighting the unique opportunity for buyers to acquire high-quality lab instruments.

Heritage Global Inc. (NASDAQ: HGBL) has raised its target for full year net operating income to exceed $10.0 million, up from a previous estimate of $9.0 million. CEO Ross Dove noted a record year driven by a resurgence in consumer spending, boosting both brokerage and lending operations. Strong demand in the Industrial Assets segment and an active auction calendar contributed to this growth. The company plans to report its fourth quarter and year-end results on the week of March 13, 2023.