Published on 23 Jan 2023 on Insider Monkey via Yahoo Finance
Here’s Why B. Riley Financial (RILY) Declined in Q4
Miller Value Partners, an investment management company, released its “Income Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 11.68% net of fees compared to a 3.98% return for the ICE BofA US High Yield Index. Also, the fund outperformed the S&P 500 Index which returned -7.56% in the quarter. The strategy was -23.61% down in 2022. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Miller Value Partners highlighted stocks like B. Riley Financial, Inc. (NASDAQ:RILY) in the Q4 2022 investor letter. Headquartered in Los Angeles, California, B. Riley Financial, Inc. (NASDAQ:RILY) is a financial company that provides investment banking and financial services. On January 20, 2023, B. Riley Financial, Inc. (NASDAQ:RILY) stock closed at $41.10 per share. One-month return of B. Riley Financial, Inc. (NASDAQ:RILY) was 28.92%, and its shares lost 32.63% of their value over the last 52 weeks. B. Riley Financial, Inc. (NASDAQ:RILY) has a market capitalization of $1.169 billion.
Miller Value Partners made the following comment about B. Riley Financial, Inc. (NASDAQ:RILY) in its Q4 2022 investor letter: