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B. Riley Financial, Inc. (NASDAQ: RILY) is a publicly traded, diversified financial services company that takes a collaborative approach to the capital raising and financial advisory needs of public and private companies, as well as high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC, which encompasses B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC. Additionally, B. Riley Principal Investments focuses on proprietary investments in other businesses, such as the acquisition of United Online, Inc.
The company's core segments include Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer products. B. Riley Financial offers a broad range of services including investment banking, financial consulting, asset disposition, valuation, and appraisal, catering to corporate, institutional, and high-net-worth clients across the United States, Canada, and Europe. Recent highlights include:
- Financial Performance: Preliminary unaudited financial results for the year ending December 31, 2023, indicate a strategic focus on core business growth and reducing dividend payouts to invest in business opportunities. The company reported a 36% increase in financial consulting revenues and an 86% rise in operating income for 2023.
- Strategic Initiatives: B. Riley has retained Moelis & Company as an independent financial advisor to review strategic alternatives for its appraisal and asset disposition businesses.
- Leadership: The recent addition of Virginia Schnippel as Managing Director to B. Riley Advisory Services highlights the company's commitment to expanding its advisory capabilities.
- Partnerships and Investments: The firm continues to make significant investments, such as funding the redevelopment of a recycling processing facility in New Jersey, and partnering with strategic investors to support environmental sustainability initiatives.
- Dividend Declaration: The Board of Directors announced a quarterly dividend of $0.50 per common share, emphasizing the company's commitment to shareholder value.
With an extensive portfolio of services and a proactive investment strategy, B. Riley Financial is positioned to provide comprehensive financial solutions tailored to the unique needs of its diverse client base. Visit www.brileyfin.com to learn more about their services.
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B. Riley Financial, Inc. (RILY) will announce Q4 and FY 2023 results on February 29, 2024. The earnings call will feature key executives discussing the performance, followed by a Q&A session with analysts and investors.
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B. Riley Financial, Inc. (RILY) announced the partial redemption of $115,492,400 aggregate principal amount of its 6.75% Senior Notes due 2024 on February 29, 2024, to satisfy obligations under its credit facility. The redemption price is 100% of the aggregate principal amount plus any accrued and unpaid interest up to the Redemption Date. The remaining $25.0 million aggregate principal amount of Notes will continue to accrue interest until the Maturity Date, which is May 31, 2024, when it is anticipated that the remaining Notes will be repaid.
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B. Riley Financial, Inc. responds to Bloomberg News article with a statement on January 22, 2024. The Firm clarifies its position in response to the inquiry made by a reporter from Bloomberg News on January 21, 2024.
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B. Riley Financial, Inc. (RILY) declares cash dividends on its 6.875% Series A Cumulative Perpetual Preferred Stock (RILYP) and its 7.375% Series B Cumulative Perpetual Preferred Stock (RILYL). Each depositary share represents 1/1000th fractional interest in a share of the respective Preferred Stock with a liquidation preference equivalent to $25.00 per depositary share. The 6.875% Series A Preferred Stock cash dividend equals $0.42968750 per depositary share, and the 7.375% Series B Preferred Stock cash dividend equals $0.4609375 per depositary share.
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Core Scientific, Inc. (OTC: CORZQ) has announced the pre-payment of the outstanding balance on the debtor-in-possession financing package provided by B. Riley Financial (NASDAQ: RILY). The company retains access to the full $35 million of available funding under the DIP financing package and maintains a strong liquidity position heading towards emergence, targeted for mid to late-January 2024.
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B. Riley Financial, Inc. (Nasdaq: RILY) announces its 24th Annual Institutional Investor Conference on May 22nd and 23rd, 2024 at The Beverly Hilton. The event will feature 200 companies across various sectors and aims to build new relationships with institutional investors. B. Riley has expanded its equity research platform and will host a star-studded charity boxing night benefiting The Sugar Ray Leonard Foundation.
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B. Riley Advisory Services (Nasdaq: RILY) welcomes Alistair Ross as Senior Vice President, leading the Los Angeles office and expanding the firm's Executive Search & Interim Management practice in the U.S. Ross brings extensive experience in executive search and interim appointments across various industry verticals, particularly in the private equity sector.
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B. Riley Financial, Inc. (NASDAQ: RILY) will host an analyst and investor day on December 13, 2023. The event will showcase commentary and presentations from top executives, offering an in-depth review of the company's business strategy, service lines, growth drivers, and shareholder value creation. Registration is required to participate, and presentation slides and a replay will be available on the company's investor relations website.
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Griffon Corporation (NYSE: GFF) and B. Riley Financial, Inc. (Nasdaq: RILY) are offering complete wood mills for sale, including real estate and plant machinery in Pennsylvania and Iowa. The assets being auctioned include injection molding, CNC, stamping, and fabrication equipment, as well as plant support assets. The auctions are part of the global sourcing strategy expansion of The AMES Companies, a subsidiary of Griffon Corporation, and will provide manufacturers with the opportunity to acquire top-tier equipment and operational sawmill facilities ready for production.
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B. Riley Financial, Inc. (NASDAQ: RILY) authorizes a $50 million annual share repurchase plan after reporting record total revenues of $462.3 million in Q3, up 48% year-over-year. Despite a net loss of $75.8 million in Q3, the company's strong balance sheet with total cash and investments of $2.05 billion at September 30 positions it well for future opportunities.
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FAQ
What is the current stock price of B. RILEY FINANCIAL (RILY)?
The current stock price of B. RILEY FINANCIAL (RILY) is $4.72 as of November 15, 2024.
What is the market cap of B. RILEY FINANCIAL (RILY)?
The market cap of B. RILEY FINANCIAL (RILY) is approximately 150.0M.
What services does B. Riley Financial, Inc. provide?
B. Riley Financial offers a range of financial services including investment banking, financial consulting, asset disposition, valuation, and appraisal.
Who are B. Riley Financial's main clients?
The company serves corporate, institutional, and high-net-worth clients across the United States, Canada, and Europe.
What are the core business segments of B. Riley Financial?
The company operates through Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer products segments.
What recent strategic initiatives has B. Riley Financial undertaken?
The company has retained Moelis & Company to review strategic alternatives for its appraisal and asset disposition businesses.
Has B. Riley Financial declared any recent dividends?
Yes, the company declared a quarterly dividend of $0.50 per common share, payable on or about June 11, 2024.
What is B. Riley Financial's approach to investments?
B. Riley Financial makes proprietary investments in various businesses and has recently funded the redevelopment of a recycling processing facility in New Jersey.
How has B. Riley Financial performed financially in recent periods?
Preliminary unaudited results for the year ending December 31, 2023, show significant growth in financial consulting revenues and operating income.
What is the role of B. Riley Principal Investments?
B. Riley Principal Investments focuses on making proprietary investments in other businesses such as the acquisition of United Online, Inc.
Who recently joined B. Riley Advisory Services?
Virginia Schnippel joined as a Managing Director, bringing over 23 years of valuation experience to the Corporate Advisory & Valuation Services practice.
Where can I find more information about B. Riley Financial's services?
You can visit their official website at www.brileyfin.com to learn more about their services.
B. RILEY FINANCIAL, INC.
Nasdaq:RILY
RILY Rankings
RILY Stock Data
149.96M
30.30M
47.4%
33.01%
37.11%
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