Topline Capital Reports 9.0% Stake in Heritage Global Inc.
Ticker: HGBL · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 849145
| Field | Detail |
|---|---|
| Company | Heritage Global Inc. (HGBL) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-change
TL;DR
**Topline Capital still owns 9.0% of Heritage Global, signaling continued institutional interest.**
AI Summary
Topline Capital Management, LLC, a California-based investment firm, has filed an amendment to its SC 13G filing for Heritage Global Inc. (NASDAQ: HGBL). As of December 31, 2023, Topline Capital Management, LLC, along with its group members, reported beneficial ownership of 2,900,000 shares of Heritage Global Inc. common stock, representing 9.0% of the company's outstanding shares. This filing indicates a significant, but slightly reduced, stake by an institutional investor, which could signal continued confidence in the company's long-term prospects, but also a potential re-evaluation of their position.
Why It Matters
This filing shows that a major institutional investor, Topline Capital Management, LLC, still holds a substantial portion of Heritage Global Inc. shares, which can influence stock stability and investor sentiment.
Risk Assessment
Risk Level: low — The filing indicates a stable, albeit slightly adjusted, institutional ownership, which generally reduces volatility and provides a level of confidence.
Analyst Insight
Investors should note the continued, albeit slightly adjusted, institutional interest in Heritage Global Inc. by Topline Capital Management, LLC, and consider it as part of their broader due diligence on the company's stability and investor confidence.
Key Numbers
- 2,900,000 — Shares Beneficially Owned (The total number of Heritage Global Inc. common shares beneficially owned by Topline Capital Management, LLC and its group.)
- 9.0% — Percentage of Class (The percentage of Heritage Global Inc.'s common stock beneficially owned by Topline Capital Management, LLC and its group.)
- $0.01 — Par Value (The par value per share of Heritage Global Inc. Common Stock.)
Key Players & Entities
- Topline Capital Management, LLC (company) — reporting person and investment firm
- Heritage Global Inc. (company) — subject company whose shares are being reported
- COLLIN MCBIRNEY (person) — group member of the reporting entity
- Topline Capital Partners, LP (company) — filing entity related to Topline Capital Management, LLC
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- Topline Capital Management, LLC will maintain a significant stake in Heritage Global Inc. for the foreseeable future. (Topline Capital Management, LLC) — medium confidence, target: 2025-12-31
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 5) to a Schedule 13G, indicating an update to the beneficial ownership information of Heritage Global Inc. common stock by Topline Capital Management, LLC and its group members as of December 31, 2023.
Who are the main reporting persons in this filing?
The main reporting persons are Topline Capital Management, LLC and its group members, including COLLIN MCBIRNEY and Topline Capital Partners, LP, as stated in the 'Names of reporting persons' section and 'GROUP MEMBERS' section of the filing.
What is the CUSIP number for Heritage Global Inc. common stock?
The CUSIP number for Heritage Global Inc. common stock is 42727E103, as listed on the cover page of the Schedule 13G.
What rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?
This Schedule 13G is filed under Rule 13d-1(c), as indicated by the checked box on the cover page of the filing.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified on the cover page of the Schedule 13G.
Filing Stats: 1,273 words · 5 min read · ~4 pages · Grade level 15 · Accepted 2024-02-12 15:52:25
Key Financial Figures
- $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti
Filing Documents
- d747986dsc13ga.htm (SC 13G/A) — 60KB
- d747986dex99a.htm (EX-99.A) — 4KB
- 0001193125-24-031984.txt ( ) — 66KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Dated: February 12, 2024 TOPLINE CAPITAL MANAGEMENT, LLC By: /s/ Collin McBirney Collin McBirney Managing Member TOPLINE CAPITAL PARTNERS, LP By: Topline Capital Management, LLC, its general partner By: /s/ Collin McBirney Collin McBirney Managing Member COLLIN MCBIRNEY /s/ Collin McBirney 8 EXHIBIT LIST Exhibit A Joint Filing Undertaking