Heritage Global, Inc. operates as an asset services company with focus on financial and industrial asset transactions.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$1.81|
|52 Week High||US$1.48|
|52 Week Low||US$4.20|
|1 Month Change||-9.50%|
|3 Month Change||-5.73%|
|1 Year Change||5.23%|
|3 Year Change||147.95%|
|5 Year Change||285.93%|
|Change since IPO||-94.83%|
Recent News & Updates
Heritage Global: Strategic Acquisition And Insiders Buying
A precipitous decline in Heritage Global's stock price challenged my bull thesis and had me scratching my head. Was my data wrong? The majority of the decline is owing to a single large shareholder reducing his ownership stake in the aftermath of resigning from the board. A strategic acquisition was announced, and then insiders started buying heavily. The thesis is still intact.
Heritage Global to join Russell Microcap Index
Heritage Global (HGBL) will join the Russell Microcap Index following the 2021 Russell indexes annual reconstitution, effective June 28 after the U.S. market opens. "We believe our addition to the index is a validation of our continued success as a leader in the financial and industrial asset transactions industry and we look forward to the heightened awareness our inclusion on the Russell Microcap Index will bring to our stock and potential future opportunities that will arise as a result." said Heritage CEO Ross Dove.Source: Press
Heritage Global (HGBL) Investor Presentation - Slideshow
The following slide deck was published by Heritage Global Inc. in conjunction with this event.
|HGBL||US Capital Markets||US Market|
Return vs Industry: HGBL underperformed the US Capital Markets industry which returned 71.9% over the past year.
Return vs Market: HGBL underperformed the US Market which returned 33.4% over the past year.
Stable Share Price: HGBL is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: HGBL's weekly volatility (8%) has been stable over the past year.
About the Company
Heritage Global, Inc. operates as an asset services company with focus on financial and industrial asset transactions. The company provides market making, acquisitions, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets.
Heritage Global Fundamentals Summary
|HGBL fundamental statistics|
Is HGBL overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|HGBL income statement (TTM)|
|Cost of Revenue||US$10.33m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.25|
|Net Profit Margin||32.74%|
How did HGBL perform over the long term?See historical performance and comparison
Is Heritage Global undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HGBL ($1.81) is trading below our estimate of fair value ($2.9)
Significantly Below Fair Value: HGBL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HGBL is good value based on its PE Ratio (7.1x) compared to the US Capital Markets industry average (16.7x).
PE vs Market: HGBL is good value based on its PE Ratio (7.1x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: HGBL is good value based on its PEG Ratio (0.2x)
Price to Book Ratio
PB vs Industry: HGBL is good value based on its PB Ratio (2.1x) compared to the US Capital Markets industry average (61.4x).
How is Heritage Global forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HGBL's forecast earnings growth (29.2% per year) is above the savings rate (2%).
Earnings vs Market: HGBL's earnings (29.2% per year) are forecast to grow faster than the US market (14.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: HGBL's revenue (24.4% per year) is forecast to grow faster than the US market (9.9% per year).
High Growth Revenue: HGBL's revenue (24.4% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if HGBL's Return on Equity is forecast to be high in 3 years time
How has Heritage Global performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HGBL has a high level of non-cash earnings.
Growing Profit Margin: HGBL's current net profit margins (32.7%) are higher than last year (17.2%).
Past Earnings Growth Analysis
Earnings Trend: HGBL has become profitable over the past 5 years, growing earnings by 67.8% per year.
Accelerating Growth: HGBL's earnings growth over the past year (137.7%) exceeds its 5-year average (67.8% per year).
Earnings vs Industry: HGBL earnings growth over the past year (137.7%) exceeded the Capital Markets industry 77.6%.
Return on Equity
High ROE: HGBL's Return on Equity (29.7%) is considered high.
How is Heritage Global's financial position?
Financial Position Analysis
Short Term Liabilities: HGBL's short term assets ($22.0M) exceed its short term liabilities ($9.3M).
Long Term Liabilities: HGBL's short term assets ($22.0M) exceed its long term liabilities ($2.5M).
Debt to Equity History and Analysis
Debt Level: HGBL is debt free.
Reducing Debt: HGBL has no debt compared to 5 years ago when its debt to equity ratio was 102.1%.
Debt Coverage: HGBL has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: HGBL has no debt, therefore coverage of interest payments is not a concern.
What is Heritage Global current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate HGBL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate HGBL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if HGBL's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if HGBL's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of HGBL's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ross Dove (68 yo)
Mr. Ross M. Dove serves as Global Chief Executive Officer of Heritage Global Inc. since January 1, 2021 and served as its President until 2021. He has served as Co-Managing Partner of Heritage Global Partn...
CEO Compensation Analysis
Compensation vs Market: Ross's total compensation ($USD412.03K) is about average for companies of similar size in the US market ($USD541.00K).
Compensation vs Earnings: Ross's compensation has been consistent with company performance over the past year.
Experienced Management: HGBL's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.
Experienced Board: HGBL's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: HGBL insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.3%.
Heritage Global Inc.'s employee growth, exchange listings and data sources
- Name: Heritage Global Inc.
- Ticker: HGBL
- Exchange: NasdaqCM
- Founded: 1983
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$65.685m
- Shares outstanding: 36.29m
- Website: https://www.hginc.com
Number of Employees
- Heritage Global Inc.
- 12625 High Bluff Drive
- Suite 305
- San Diego
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/27 22:56|
|End of Day Share Price||2021/10/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.