Keep Your Eyes on Stock News: B. Riley Financial (NASDAQ:RILY)
B. Riley Financial (NASDAQ:RILY) stock identified change of 85.54% away from 52-week low price and recently located move of -12.08% off 52-week high price. It has market worth of $722.17M and dividend yield of 2.68%. RILY stock has been recorded -2.07% away from 50 day moving average and 14.77% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.82% off 20-day moving average.
B. Riley Financial (NASDAQ:RILY) revealed that on February 10, 2020 it priced an underwritten registered public offering of $115 million aggregate principal amount of 6.375% Senior Notes due 2025. The Company has granted the underwriters a 30-day option to purchase up to an additional $17.25 million aggregate principal amount of notes in connection with the offering solely to cover overallotments. The offering is expected to close on February 12, 2020, subject to customary closing conditions.
B. Riley Financial and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the notes on NASDAQ under the symbol RILYM and expects the notes to begin trading within 30 business days of the closing date of this offering, if approved.
The Company expects to use 20% of the net proceeds of this offering to redeem a portion of its existing 7.50% Senior Notes due 2027 (once these notes are subject to optional redemption, on or after May 31, 2020) and the remaining net proceeds for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness, making capital expenditures and funding working capital.
The Financial sector company, B. Riley Financial noticed change of 0.19% to $26.09 along volume of 33861 shares in recent session compared to an average volume of 57.14K shares. The stock observed return of -2.54% in 5 days trading activity. The stock was at 4.44% over one month performance. RILY’s shares are at -5.83% for the quarter and driving a 80.79% return over the course of the past year and is now at 3.61% since this point in 2018.
The average volatility for the week at 2.44% and for month was at 3.13%. There are 27.68M shares outstanding and 16.09M shares are floated in market. Right now the stock beta is 0.66.